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

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Bmx Company Has One Employee Fica Social Security Taxes Are 6 2 Of The First 137 700 Paid To Its Employee And Fica M 1 (34.36 KiB) Viewed 65 times

Bmx Company Has One Employee Fica Social Security Taxes Are 6 2 Of The First 137 700 Paid To Its Employee And Fica M 2 (32.79 KiB) Viewed 65 times

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. Gross Pay through Cross Pay for August 31 $6,400 September A. $800 b. 2,100 2,000 131,400 C. 8,000 Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities 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 General Journal Gross Pay The employee's federal income taxes withheld by the employer are $80 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) Tax Amount September Earnings Tax Rate Subject to Tax $ 80.00 Federal income tax
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 tebit Credit September 30 Record entry Clear entry View general Journal of 6 < Prev Next >