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oyow/Conect.htm 09 Saved Help Save & ExitS Check my w (The following information applies to...

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Accounting

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oyow/Conect.htm 09 Saved Help Save & ExitS Check my w (The following information applies to the questions displayed below) BMX Company has one employee, FICA Social Security taxes are 6.2% of the first $118,500 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 2.9% of the first $7,000 paid to its employee. Gross Pay Gross Pay for September 1,700 roug ugust $ 6,400 20,100 114,100 4,000 9,900 Assuming situation a, prepare the employer's September 30 journal entries to record salary expense and its relate payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $60 for this period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Tax Amount 60.00 Federal income tax

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