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Bmx company has one employee

16/10/2021 Client: muhammad11 Deadline: 2 Day

BMX Company Has One Employee. FICA Social Security Taxes Are 6.2% Of The First $110,100 Paid To Its Employee, And FICA Medicare Taxes Are 1.45% Of Gross Pay. For BMX, Its FUTA Taxes Are 0.8% And SUTA Taxes Are 2.9% Of The First $7,000 Paid To Its Employee

BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $110,100 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.8% and SUTA taxes are 2.9% of the first $7,000 paid to its employee.

Gross Pay through August Gross Pay for September
a. $ 6,400 $ 800

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. (Round your answers to 2 decimal places.)

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