For the year ended December 31, 2014, Stone Company reports the following summary payroll data.

Stone Company€™s payroll taxes are Social Security tax 6.2%, Medicare tax 1.45%, state unemployment 2.5% (due to a stable employment record), and 0.8% federal unemployment. Gross earnings subject to Social Security taxes of 6.2% total $340,000, and gross earnings subject to unemployment taxes total $90,000.

Instructions
(a) Prepare a summary journal entry at December 31 for the full year€™s payroll.
(b) Journalize the adjusting entry at December 31 to record the employer€™s payroll taxes.
(c) The W-2 Wage and Tax Statement requires the dollar data shown below.

Complete the required data for the followingemployees.

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Gross earnings: Deductions: 26,735 78,000 1 1,700 United Fund contributions payable 17,000 12,000 $145,435 Administrative salaries Electricians' wages $150,000 240,000 $390,000 FICA taxes Federal income taxes withheld State income taxes withheld (396) Total Health insurance premiums Total Wages, Tips Other Compensation Federal Income State Income FICA FICA Tax Tax Withheld Wages Withheld Tax Withheld