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Below is a payroll sheet for Crane Company for the month of July. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45\% is charged both employer and employee for an employee's wages in excess of $128,400 per employee. (a) Complete the payroll sheet. (Round answers to 2 decimal places, e.g. 15.26.) Below is a payroll sheet for Crane Company for the month of July. The company is allowed a 1\% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45\% is charged both employer and employee for an employee's wages in excess of $128,400 per employee. (a) Complete the payroll sheet. (Round answers to 2 decimal places, e.g. 15.26.) Make the necessary entry to record the payment of the payroll. (Round answers to 2 decimal places, e.g. 15.26. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)

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