For the year ended December 31, 2017, Denkinger Electrical Repair Company reports the following summary payroll data.

Gross earnings:

Administrative salaries $186,500

Electricians wages 390,000

Total $576,500

Deductions:

FICA taxes $38,584

Federal income taxes withheld 166,500

State income taxes withheld (3%) 17,295

United Fund contributions payable 27,813

Health insurance premiums 18,000

Total $268,192

Denkinger Companys 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 $487,500, and gross earnings subject to unemployment taxes total $124,000.

(a)

Prepare a summary journal entry at December 31 for the full years payroll.

(b)

Journalize the adjusting entry at December 31 to record the employers payroll taxes.

(Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

(a)

(b)

(c) The W-2 Wage and Tax Statement requires the following dollar data.

Complete the required data for the following employees. (Round answers to 0 decimal places, e.g. 5,275.)

Employee

Wages, Tips, Other Compensation

Federal Income Tax Withheld

State Income Tax Withheld

FICA Wages

FICA Tax Withheld

Maria Sandoval

$60,000 $29,400

$

$

$

Jennifer Mingenback

27,500 10,725