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 $90 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee's federal income taxes withheld by the employer are $90 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Tax Rate Subject to Tax Federal income tax Taxes to be Withheld From Gross Pay Tax Amount $ 90.00 General Journal >
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 $90 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee's federal income taxes withheld by the employer are $90 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Tax Rate Subject to Tax Federal income tax Taxes to be Withheld From Gross Pay Tax Amount $ 90.00 General Journal >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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 $90 for this pay period.
Complete this question by entering your answers in the tabs below.
Taxes to be
withheld From
Gross Pay
The employee's federal income taxes withheld by the employer are $90 for this pay period. Assuming situation (a), compute
the taxes o be withheld from gross pay for this employee. (Round your answers to 2 decimal places.)
Taxes to be Withheld From Gross Pay (Employee-Paid Taxes)
September Earnings
Subject to Tax
Federal income tax
General
Journal
Show Transcribed Text
1
Taxes to be Withheld From Gross Pay
Journal entry worksheet
Date
September
30
Note: Enter debits before credits.
Tax Rate
Record entry
Prepare the employer's September 30 journal entry to record accrued salary
expense and its related payroll liabilities for this employee.
20
General Journal
Tax Amount
$
Clear entry
90.00
General Journal >
Debit
Credit
>
View general journal
![Required information
[The following information applies to the questions displayed below.]
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.
a.
c.
Gross Pay through Gross Pay for
August 31
$ 5,200
2,700
132,100
September
$ 2,400
2,800
8,700
suming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for
employee. The employee's federal income taxes withheld by the employer are $90 for this pay period.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4be9481d-42db-49d0-9351-cb00829908ba%2Fa3548572-fed6-4f73-b95b-2f3670cff7db%2Fpb4xt2p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
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.
a.
c.
Gross Pay through Gross Pay for
August 31
$ 5,200
2,700
132,100
September
$ 2,400
2,800
8,700
suming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for
employee. The employee's federal income taxes withheld by the employer are $90 for this pay period.
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