Solution for QID #25265: Employees of Harding Fabricators, Inc. earned gross wages of | StudyHelpMe

Employees of Harding Fabricators, Inc. earned gross wages of $140,000 during a recent two- week period. Employee withholdings and payroll tax percentages are presented below:   Federal withholding ................................... $33,000 Hospital insurance premiums ........................... 3,050 FICA .................................................. 7.5% State unemployment .................................... 2.0% Federal unemployment .................................. 0.8% Only $78,000 of wages are subject to FICA, and $36,000 are subject to unemployment taxes.   Prepare the entry to record the gross payroll. Prepare the entry to record employer payroll taxes.