Exercise 11-8 Payroll-related journal entries P2 Using the data in situation (a) of Exercise 11-7, 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. Round amounts to cents.

Payroll-related journal entries P2 Using the data in situation (a) of Exercise 11-7, 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. Round amounts to cents. Computing payroll taxes P2 P3 BMX Company has one employee. FICA Social Security taxes are 6.2% of the first page 417 $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. 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 (c). Round amounts to cents. Check (a) FUTA, $3.60; SUTA, $32.40 Exercise 11-8 Payroll-related journal entries P2 Using the data in situation ( a ) of Exercise 11-7, 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. Round amounts to cents