BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200...
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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 pald to Its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, Its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 pald to Its employee. Gross Pay through August 31 $ 6,800 Gross Pay for September a. 700 b. 2, 300 2,5e0 119, 100 C. 8,400 Assuming situation a, prepare the employer's September 30 journal entries to recc the employer's payroll taxes expense and Its related llablitles. Complete this question by entering your answers in the tabs below. Employer Payroll TaxeS Genera Journal Assuming situation a calculate the employer's payroll taxes expense. Round your ans September eamings Subject to tax Employer Payroll taxes Tax Rate Tax Amount Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30
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