Required information The following information applies to the questions displayed below.) BMX Company has one employee....
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 for September Gross Pay through August 31 $ 6,300 1,700 119,000 a. b. $1,800 3,900 9,800 c. Assuming situation...
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 a. $ 6.400 2.000 120,900 Gross Pay for September $ 800 2,100 8,000 Assuming situation a, prepare...
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 $ 6,400 2,000 120, 900 Gross Pay for September S 800 2,100 8,000 c. Compute BMX's amounts...
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 Gross Pay for September a. $ 6,400 $ 800 b. 2,000 2,100 c. 120,900 8,000 Assuming situation a, prepare the employer’s September 30 journal entries to record...
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 Gross Pay for September a. $ 6,400 $ 800 b. 2,000 2,100 c. 120,900 8,000 Assuming situation a, prepare the employer’s September 30 journal entries to record...
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 $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. Gross Pay through August 31 Gross Pay for September a. $ 5,900 $ 1,400 b. 2,700 2,800 c. 123,500 9,400 Compute...
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 $128.400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay, For BMX, its FUTA taxes are 0.5% and SUTA taxes are 5.4% of the first $7000 paid to its employee. Cross Pay through August 31 $ 5,000 2,250 122,600 Gross Pay for September $ 2, 100 2,350 0.500 Assuming situation (a),...
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 $118,500 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 2.9% of the first $7,000 paid to its employee. Gross Pay through August Gross Pay for September a. $5,400 $2,400 b. 19,100 3,000 c. 113,100 8,900 Compute BMX’s amounts for each of these four taxes...
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 $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. Gross Pay through August 31 $ 5,490 2,450 123,899 Gross Pay for September $2,400 2,550 8.999 Assuming situation a, prepare the...
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 $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. Gross Pay through August 31 $ 6,100 2,800 123, 700 Gross Pay for September $1,400 2,900 9,600 a. b. C. Compute...