Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. [the following information applies to the question

[The following information applies to the questions displayed below.) BMX Company has one employee FICA...

90.2K

Verified Solution

Question

Accounting

image
image
[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 ore 145% of gross pay, For BMX, Its FUTA taxes are 0.6% and SUTA taxes are 54% of the first $7,000 paid to its employee a. b. Gross Pay through August 31 $ 5,100 2,600 132,000 Gross Pay for September $ 2,200 2,700 3,600 Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places. Required information Journal entry worksheet Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits General Journal Debit Credit Date September 30 Record entry Clear entry View general journal

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What special requirement is there for the ground conductor for the receptacles in a patient care...

Electrical Engineering
Q

. Block A and Block B start from rest on a horizontal track. An ideal string...

Physics
Q

per the are nits 18 The electric potential due to an infinite sheet of positive...

Physics
Q

Calculate the all possible View factor of cylinder body assume top and bottom surface as...

Physics
Q

50 When the electron of a hydrogen like atom jumps from a higher energy level...

Physics
Q

4 Given 22 23 and 24 25 Prove 21 25 1 2 3 Fill in...

Geometry
Q

1 Find the radius of a circle which has a sector of area 15 square...

Basic Math
Q

Est Length 2 00 00 Page 1 1 4 2 5 3 Quiz Neftali Moreno...

Statistics
Q

Slope 3 passing through 6 7 OA y 3x 11 OB y 3x 11 OC...

Algebra
Q

P11-3A The stockholders' equity accounts of Castle Corporation on January 1, 2019, were as follows....

Accounting
Q

Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the...

Accounting
Q

On June 10 , Shamrock Company purchased $7,600 of merchandise from Pharoah Company, on account,...

Accounting