For the year ended December 31, 2014, Grayson Electrical Repair Company reports the following summary payroll data.
Gross earnings:
Administrative salaries .......... $180,000
Electricians€™ wages ............. 370,000
Total .................. $550,000
Deductions:
FICA taxes ................ $ 37,983
Federal income taxes withheld ....... 168,000
State income taxes withheld (3.2%) ..... 17,600
United Fund contributions payable ..... 27,500
Hospital insurance premiums ........ 32,200
Total ................. $283,283
Grayson 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 total $484,000, and unemployment taxes total $125,000.

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 following dollar data.

Complete the required data for the followingemployees.

Employee Jin Chien Nina Harris Gross Earnings $59,000 26,000 Federal Income Tax Withheld $19,500 9,200