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Use the following information for the EX [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security
Use the following information for the EX [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. b. c. Gross Pay through August 31 $ 5,900 2,400 132,800 Gross Pay for September $1,400 2,500 9,400 Exercise 9-9 (Algo) Payroll-related journal entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Complete this question by entering your answers in the tabs below. Payroll Taxes General Expense Journal Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings: subject to tax Tax Rate Tax Amount
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