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Accounting

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Required information [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 62% of the first $137700 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 pald to its employee Gross Pay through Gross Pay for August 31 September $5.500 $ 2,300 3,000 3,100 132,400 9.000 b. Assuming situation (a), prepare the employer's September 30 joumal entry to record the employer's payroll taxes expense and its related liabilities Payroll Taxes Expense General Journal Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount Payroll es Espinge General Journal > ! Required information

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