These are all parts to one question. Required information [The following information...
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Accounting
These are all parts to one question.
Required information [The following information applies to the questions displayed below.] 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 5,100 2,300 122,700 Gross Pay for September $2,200 . b. 2,400 8,600 C. Assuming situation (a), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilitie for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee's federal income taxes withheld by the employer are $80 for this pay period. Compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be With held From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax 80.00 General Journal> Taxes to be Withheld From Gross Pay Journal entry worksheet 1 Prepare the employer's September 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits Date General Journal Debit Credit Sep 30 Record entry Clear entry View general iournal Assuming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) September earnings subject to tax Employer Payroll taxes Tax Rate Tax Amount $ 0.00 Payroll Taxes Expense General Journal Journal entry worksheet 1 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 Record entrY Clear entry View general iournal
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