BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400...
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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 Gross Pay for September a. $ 6,400 $ 1,700 b. 2,950 3,050 c. 124,000 9,900 rev: 05_16_2019_QC_CS-168714 Assuming situation (a), prepare the employers September 30 journal entries to record the employers payroll taxes expense and its related liabilities.
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