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I need help with this assignment For the year ended December 31, 2012, Radar Company reports the following sum- mary payroll data. Gross earnings: Deductions
I need help with this assignment
For the year ended December 31, 2012, Radar Company reports the following sum- mary payroll data. Gross earnings: Deductions Administrative salaries $150,000 FICA taxes. 29,600 78,000 Electricians' wages 240,000 Federal income taxes withheld S390.000 State income taxes withheld (3% 11,700 Total United Fund contributions payable 17,000 12,000 Health insurance premiums Total $148,300 Radar Company's payroll taxes are: FICA 8%, state unemployment 2.5% (due to a stable em- ployment record), and 0.8% federal unemployment. Gross earnings subject to FICA taxes total 370,000, and gross earnings subject to unemployment taxes total $90,000. nstructions 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. e) The W-2 Wage and Tax Statement requires the dollar data shown below. FICA. FICA. Tas Wages, Tips, Federal Income State Income Wages Withheld Tax Withheld Other Compensation Tax Withheld Complete the required data for the following employees Federal Income Tax Withheld Employee Gross Earnings $18,300 A. Valdez $50,000 24,000 4,800 E. Izzard
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