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Business, 16.12.2021 14:00 Mlmyers81

[1:38 pm, 13/12/2021] Wang' Teko Rach: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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. $ 6,000 $ 1,500
b. 2,000 2,100
c. 132,900 9,500
[1:42 pm, 13/12/2021] Wang' Teko Rach: Assuming situation (a), prepare the employer’s September 30 journal entry to record salary expense and its related payroll liabilities for this employee. The employee’s federal income taxes withheld by the employer are $70 for this pay period.

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[1:38 pm, 13/12/2021] Wang' Teko Rach: BMX Company has one employee. FICA Social Security taxes are...
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