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 $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August 31 $ 6,400 Gross Pay for September 800 а. b. 2,000 120,900 2,100 8,000 C. ssuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabiliti 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. Employee Paid Таxes General Journal Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Таx Amount ederal income tax 80.00 General Journal
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 $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August 31 $ 6,400 Gross Pay for September 800 а. b. 2,000 120,900 2,100 8,000 C. ssuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabiliti 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. Employee Paid Таxes General Journal Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Таx Amount ederal income tax 80.00 General Journal
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 4E
Related questions
Question
![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 $127,200 paid to its employee, and FICA
Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid
to its employee.
Gross Pay through
August 31
$ 6,400
Gross Pay for
September
800
а.
b.
2,000
120,900
2,100
8,000
C.
ssuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabiliti
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.
Employee Paid
Таxes
General
Journal
Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are
$80 for this pay period. (Round your answers to 2 decimal places.)
Taxes to be Withheld From Gross Pay (Employee-Paid Taxes)
September Earnings
Subject to Tax
Tax Rate
Таx Amount
ederal income tax
80.00
General Journal
<Employee Paid Taxes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b868480-07f0-4513-b0e4-403d75e281f6%2F6f05c109-666f-423a-bae0-47fb07194ac9%2F3h0bidk.png&w=3840&q=75)
Transcribed Image Text: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 $127,200 paid to its employee, and FICA
Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid
to its employee.
Gross Pay through
August 31
$ 6,400
Gross Pay for
September
800
а.
b.
2,000
120,900
2,100
8,000
C.
ssuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabiliti
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.
Employee Paid
Таxes
General
Journal
Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are
$80 for this pay period. (Round your answers to 2 decimal places.)
Taxes to be Withheld From Gross Pay (Employee-Paid Taxes)
September Earnings
Subject to Tax
Tax Rate
Таx Amount
ederal income tax
80.00
General Journal
<Employee Paid Taxes
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