(2) BMX Company has 1,000 employees. FICA Social Security taxes are 6.2% of the first...
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BMX Company has employees. FICA Social Security taxes are of the first paid to its employee and FICA Medicare taxes are For BMX its FUTA taxes are and SUTA taxes are of the first $ paid to its employee. Every employee individually has earned more than $ but no more than $ as of December Also, assume that the federal income taxes withheld by the employer are of the gross pay for each period. Through substantive analytical procedures, it has been discovered by the audit team that a material amount of days worth of payroll accruals have not been recorded as of December Each employee of the total employees worked hours during the last days of the year and earns an average of $ hour. Document below the adjusting journal entry you would propose to management of BMX Company. 
BMX Company has employees. FICA Social Security taxes are of the first paid to its employee and FICA Medicare taxes are For BMX its FUTA taxes are and SUTA taxes are of the first $ paid to its employee. Every employee individually has earned more than $ but no more than $ as of December Also, assume that the federal income taxes withheld by the employer are of the gross pay for each period.
Through substantive analytical procedures, it has been discovered by the audit team that a material amount of days worth of payroll accruals have not been recorded as of December Each employee of the total employees worked hours during the last days of the year and earns an average of $ hour.
Document below the adjusting journal entry you would propose to management of BMX Company.
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