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 $137700 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 $ 5,580 $ 2,300 3,100 132,400 3, eee 9, see Exercise 9-8 (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 labilities for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be General Withheld From Gross Pay 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 $80 for this pay period. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet
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