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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700...

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Accounting

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.
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.
Prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities.
Note: Round your answers to 2 decimal places.
Journal entry
worksheet
Record the employer's September 30 payroll taxes expense and its related
liabilities.
Note: Enter debits before credits.
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