For the year ended December 31, Sheffield Electrical Repair Company reports the following summary payroll data. Gross earnings: Administrative salaries $192,000 Electricians' wages 356,000 Total $548,000 Deductions: FICA taxes $36,714 Federal income taxes withheld 174,500 State income taxes withheld (3%) 16,440 United Fund contributions payable 27.400 Health insurance premiums 20,000 Total $275,054 Sheffield Company's payroll taxes are Social Security tax 6.2% and Medicare tax 1.45%. Gross earnings subject to Social Security of 6.296 total $464,000. -75 Sheffield Company's payroll taxes are Social Security tax 6.2% and Medicare tax 1.45%. Gross earnings subject to Social Security taxes of 6.2% total $464,000. (a) Prepare a summary journal entry at December 31 for the full year's payroll. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) 16) The W-2 Wage and Tax Statement requires the following dollar data. Complete the required data for the following employees. Wages, Tips, Other Compensation Federal Income Tax Withheld loyee State Income Tax Withheld FICA Wages FICA Tax Wi doval $60,000 $29,400 $ $ I $ lingenback 30,000 11,700 e Textbook and Media List of Accounts Attempts: 0 of 2 used Submit Answer Save for Later