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https //newconnect. ?mndering Hals Ap- O s-erYADAND? M Relable "Go-To. O- . Create Your Free w.. @ my math lab a conect Shoes for women i- accoun Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate comp 0 Required information Use the following information for the Exercises below. The following information applies to the questions displayed below. BMX Company has one employee, FICA Social Security taxes are 6.2% of the first $1 Medicare taxes are 1.45% ofgross pay For BMX, its FUTA taxes are 06% and SUTA taxes are 29% of the fist S7000 paid to its employee. 18 500 paid to its employee, and RCA Pay for 18,200 2,100 Exercise 9-5 Computing payroll taxes LO P2, P3 Compute BMX's amounts for each of these four separate situations (a), (b), and (a (Round your answers to 2 decimal places) taxes as applied to the employee's gross earnings for September under each of three 3 Answer is complete but not entirely correct Tax Rate Tax Amount FICA-Social Security 620%Os 00.00 200.00 0.15 1.20 FUTA 0.60%?: G Search or type URLExplanation / Answer
a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security $800.00 6.20% $49.60 FICA-Medicare 800 1.45% $11.60 FUTA 600 0.60% $3.60 SUTA 600 2.90% $17.40 b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security 2,100.00 6.20% $130.20 FICA-Medicare 2,100.00 1.45% $30.45 FUTA 0 SUTA 0 c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security 6,300.00 6.20% $390.60 FICA-Medicare 8,000.00 1.45% $116.00 FUTA 0 SUTA 0 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 $800.00 6.20% $49.60 FICA—Medicare 800 1.45% $11.60 Total taxes withheld 141.2 Date General Journal Debit Credit 30-Sep Salaries expense 800 FICA—Social Security taxes payable $49.60 FICA—Medicare taxes payable $11.60 Employee federal income taxes payable 80 Salaries payable $658.80
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