am.456. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, anMedicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,00to its employee.a.b.C.Gross Pay throughAugust 31$ 5,7003,200132, 600Exercise 11-9 (Algo) Payroll-related journal entries LO P3Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expenserelated liabilities.Payroll Taxes GeneralExpenseJoumalFUTASUTAComplete this question by entering your answers in the tabs below.Employer Payroll taxesGross Pay forSeptember$ 1,800FICA-Social SecurityFICA-Medicare3,3009,200Assuming situation (a), compute the payroll taxes expense.Note: Round your answers to 2 decimal places.›› › ›Answer is complete but not entirely correct.September earningssubject to tax1,800.001,800.00✔42.00 x42.00 xTax Rate6.20%1.45%0.60%✔✔✔5.40%Total Payroll Taxes Expense< Payroll Taxes Expense$$Tax Amount111.6026.100.252.27140.22General Journal >

SUTA and FUTAFUTA refer to the Federal Unemployment Tax Act which states that every employer is…

BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, an 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 $7,00 to its employee. Gross Pay through August 31 $ 5,700 3,200 132,600 Exercise 11-9 (Algo) Payroll-related journal entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense related liabilities. Payroll Taxes Expense Complete this question by entering your answers in the tabs below. FUTA SUTA General Joumal Gross Pay for September $ 1,800 3,300 9,200 Employer Payroll taxes FICA-Social Security FICA-Medicare Assuming situation (a), compute the payroll taxes expense. Note: Round your answers to 2 decimal places. Answer is complete but not entirely correct. 0000 September earnings subject to tax 1,800.00 1,800.00 42.00 42.00 Tax Rate 6.20% 1.45% 0.60% 5.40% Total Payroll Taxes Expense < Payroll Taxes Expense $ $ Tax Amount 111.60 26.10 0.25 2.27 140.22 General Journal >