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For the year ended December 31, 2022, Sunland Electrical Repair Company reports the following summary...

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Accounting

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For the year ended December 31, 2022, Sunland Electrical Repair Company reports the following summary payroll data. Sunland's poyroll taoes are Social Secairity tax 6.2%, Medicare tax 1.45\%, state unemployment 2.5% idue to a stable employment record, and 0.6\% federal unemployment. Gross earnings subject to Social Security taxes of 6.2% total $487,000, and gross earnings. subject to unemployment taos total $124,000. No employee exceeds the $132,900 limit related to FiCA taves. (a) Prepare a summary journal entry at December 31 for the full year's poyroll. (b) Joumalize the adjustirg entry at December 31 to record the emplayer's paytoll taxps No. Account Titles and Explanation Debit Credit (a) Salaries and Wages Expense Federal Income Taxs Payable FICA Taxes Payable State Income Taxes Payable United Fund Contributions Payable Health Insurance Payable 18,000 Salaries and Wages Parable (b) Payroll Tax Expense Federal Unemployment Taxes Payable State Unemployment Taxes Payable 3100 Health Insurance Parable

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