Karl an employee of smith electric inc has gross salary for


Question - Karl, an employee of Smith Electric, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Karl has a deduction of $320 for health insurance and $80 for United Way. Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Provide the journal entry to record salaries expense and payroll withholdings.

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Accounting Basics: Karl an employee of smith electric inc has gross salary for
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