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Connect ed Sites Web Slice Gallery epter 9 Homework Help Save& Exit Subr 4 0 Required information The following information applies to the questions displayed below BMX Company FICA M rt 3 of 3 has one employee, FICA Social Security taxes are 6.2% of the first $118,500 paid to its employee, and pacate its es are 145% of gross pay For BMX itsFUTA taxes are 06% and SUTA taxes are 2.9% of the first 18,300 2,200 situation a, prepare the employer's September 30 journal entries to record the employer's payroll toxes expense and its related liabilities. (Round your answers to 2 decimal places.j Tax RateTax Prev Of 10E Score answer

Explanation / Answer

September earning Employer payroll taxes Subject to tax Tax rate Tax amount FICA social 900 900 6.20% 55.8 FICA medicare 900 900 1.45% 13.05 FUTA 900 500 0.60% 3 SUTA 900 500 2.90% 14.5 86.35 Payroll tax expense 86.35                    FICA social security taxes payable 55.8                    FICA medicare taxes payable 13.05                    FUTA taxes payable 3                    SUTA taxes payable 14.5

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