Question

Chapter 9 Exercises i Saved Required information [The following information applies to the questions displayed below.] Part 2 of 2 BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 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. 1.33 points Gross Pay through August 31 $ 5,900 2,700 123,500 Gross Pay for September $1,400 2,800 9,400 eBook Hint Assuming situation (a), prepare the employer's September 30 journal entries 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. Print 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 $80 for this pay period. 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 Tax Rate Tax Amount Subject to Tax Federal income tax 80.00 < Taxes to be Withheld From Gross Pay General Journal >

Answer 1

Taxes to be Withheld From Gross Pay (Employee-Paid Taxes)
	September Earnings Subject to Tax	Tax Rate	Tax Amount
Federal income tax			80.00
FICA—Social Security	1400	6.20%	86.80
FICA—Medicare	1400	1.45%	20.30
Total taxes withheld			187.10
Date	General Journal	Debit	Credit
Sep 30	Salaries expense	1400.00
	FICA—Social Security taxes payable		86.80
	FICA—Medicare taxes payable		20.30
	Employee federal income taxes payable		80.00
	Salaries payable		1212.90