Question: Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] BMX Company has one employee.
Required information Use the following information for the Exercises below. (Algo) [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 57,000 paid to its employee. Exercise 98 (Algo) Payroll-related journal entries LO P2 Assuming situation (e), prepare the employer's September 30 journal entry to record salacy expense and ibs related poyroil llabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay perlod
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