Question: 1,2,3 PART OF THE SAME QUESTION HELP Required information Use the following information for the Exercises below. The following information applies to the questions displayed

1,2,3 PART OF THE SAME QUESTION
HELP  1,2,3 PART OF THE SAME QUESTION HELP Required information Use the
following information for the Exercises below. 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

Required information Use the following information for the Exercises below. 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 Gross Pay for August 31 September $ 5,600 $1,500 b. 2,550 2,650 123,200 9,100 a. C. Exercise 9-5 Computing payroll taxes LO P2, P3 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (d. (Round your answers to 2 decimal places.) a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICASocial Security FICA--Medicare FUTA SUTA Assuming situation (), prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be General Withheld From Gross Pay Journal The employee's federal income taxes withheld by the employer are $90 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 withheld From Gross Pay (Employee-Pald Taxes) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax $ 90.00 General Journal > Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!