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Use the following information for the Exercises below. [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security

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Use the following information for the Exercises below. [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 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. Gross Pay through August 31 $ 6,400 2,95e 124,000 Gross Pay for September $1,700 3,850 9,900 b C. Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c)(Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Tax Tax Rate Tax Amount 6,20% 5 September Earnings Subject to Tax $ 1.600.00 1,600.00 800.00 3 800.00 FICA Social Security FICA Medicare FUTA SUTA b) 99 20 1.45% 0.60% 5.40% 23 20 4.80 43.20 Tax Rate September Earnings Subject to Tax 2,100.00 Tax Amount 6,20% $ 130 20 2,100.00 1.45% 30 45 FICA-Social Security FICA-Medicare FUTA SUTA c) 0.00 0.00 Tax Tax Rate Tax Amount September Earnings Subject to Tax 6,300.00 6.20% $ 390.60 116.00 8,000.00 3 1.45% FICA Social Security FICA-Medicare FUTA SUTA Exercise 9-6 Payroll-related journal entries LO P2 Assuming situation (e), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $60 for this pay period Complete this question by entering your answers in the tabs below. Taxes to be General Withheld From Journal Gross Pay The employee's federal income taxes withheld by the employer are 560 for this pay period. Compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee Pald Taxes) September Earnings Tax Rate Tnx Amount Subject to Tax Foderal income tax 5 60.00 General Journal > to be Withheld from Cross Pay Exercise 9-7 Payroll-related journal entries LO P3 Assuming situation (a) prepare the employer's September 30 journal entries 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 Expense General Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount General Journal > Payroll Taxes Espen

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