Question: Please follow the same format when answering the question and make sure to answer all parts! BMX Company has one employee. FICA Social Security taxes

Please follow the same format when answering the question and make sure to answer all parts!

Please follow the same format when answering the question and make sureto answer all parts! BMX Company has one employee. FICA Social Securitytaxes are 6.2% of the first $137,700 paid to its employee, andFICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTAtaxes are 0.6% and SUTA taxes are 5.4% of the first $7,000paid to its employee. Gross Pay through August 31 $ 6,300 2,600

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 August 31 $ 6,300 2,600 133,200 . b. Gross Pay for September $ 1,800 2,700 9,800 . C. 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 your answers to 2 decimal places.) a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICASocial Security FICAMedicare FUTA SUTA (The following information applies to the questions displayed below.) 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. a. b. Gross Pay through August 31 $ 6,300 2,600 133,200 Gross Pay for September $ 1,800 2,700 9,800 C. Exercise 11-8 (Algo) Payroll-related journal entries LO P2 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 $90 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 $90 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) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax $ 90.00 a b. Gross Pay through August 31 $ 6,300 2,600 133,200 Gross Pay for September $ 1,800 2,700 9,800 C. Exercise 11-8 (Algo) Payroll-related journal entries LO P2 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 $90 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal 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 $90 for this pay period. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits. Date General Journal Debit Credit September 30 Record entry Clear entry View general journal

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