Question: Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate comple

 Check my work mode : This shows what is correct or
incorrect for the work you have completed so far. It does not

Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate comple 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 $ 5,800 2,650 123,400 Gross Pay for September $1,400 2,750 9,300 Assuming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities Answer is not complete. Complete this question by entering your answers in the tabs below. Employer Payroll Taxes General Journal Assuming situation a, calculate the employer's payroll taxes expense. (Round your answers to 2 decimal places.) Answer is not complete. Complete this question by entering your answers in the tabs below. Employer General Payroll Taxes Journal Assuming situation a, calculate the employer's payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount FICA-Social Security 1,400.00 6.20% 86.80 FICA - Medicare 1,400.00 1.45% 20.30 FUTA 1,000.00 0.60% 6.00 SUTA 7,000.00 5.40% 378.00 Total Payroll Taxes Expense 491.10

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!