Chapter 10 Connect 4. https://www.dropbox.com/s/0jn9k9wbmxe2trc/ch%2010%20%234-1
ID: 2581395 • Letter: C
Question
Chapter 10 Connect
4. https://www.dropbox.com/s/0jn9k9wbmxe2trc/ch%2010%20%234-1.png?dl=0
https://www.dropbox.com/s/khrc1s0fex3hra9/ch%2010%20%234-2.png?dl=0
Chapter 11 Connect
[The following information applies to the questions displayed below.] Use journal entry worksheet link. Part 1a is answered but I provided to help with journal entry.
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.
https://www.dropbox.com/s/l5bc310o23mu5xs/connect%20chapter%2011%20%231a.png?dl=0 Answered 1a.
https://www.dropbox.com/s/x2l0z91zacuhp8s/connect%20chapter%2011%20%231b.png?dl=0
Gross Pay through August Gross Pay for September a. $ 6,200 $ 1,600 b. 19,900 3,800 c. 113,900 9,700Explanation / Answer
ans)
September earnings Tax rate Amt
Subject to tax
Federal income tax 80
FICA - Social security 1600 6.2% 99.2
FICA - Medicare 1600 1.45% 23.2
Total taxes withheld 202.4
Sep 30 Salaries expense 1600
FICA - Social security taxes payable 99.2
FICA- Medicare taxes payable 23.2
Employee federal income taxes payable 80
Salaries payable 1397.6
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