Please assist.

Use the following to answer questions 11 13

TR Air provides cost effective solutions for managing regulatory requirements and environmental needs specific to the HVAC industry. Assume that on July 1st, the company borrows $100,000 by issuing a one-year note compounding annually. Interest is payable at maturity.

11. $___________Determine the amount of interest expense that should be recorded in a year-end adjusting entry assuming a 5.0% interest rate and a fiscal year-end September 30.

12. $___________Determine the amount of interest expense that should be recorded in a year-end adjusting entry assuming a 4.25% interest rate and a fiscal year-end December 31.

13. $___________Determine the amount of interest expense that should be recorded in a year-end adjusting entry assuming a 3.9% interest rate and a fiscal year-end March 31.

Use the following to answer questions 14 18

You have been working at a local distributor for the past couple of years. Your bi-weekly salary is $1,450. Your average income tax rate is 12% plus FICA taxes at 7.65%. Your employer provides health insurance to you which costs your employer $700.00 per pay and costs you $60 per pay (assume this is after tax). Determine the following based on your pay for your LAST paycheck of the year.

14. $______.__ __How much will your employer withhold from your paycheck for federal income taxes?

15. $______.__ __How much will your employer withhold from your paycheck for FICA taxes? (round to two decimal places)

16. $________.__ __How much will your employer direct deposit into your bank account for your pay? (round to two decimal places)

17. $________.__ __What is your total cost to your employer for the bi-weekly pay period? (round to two decimal places)

18. $__ __.__ __ If you work 80 hours bi-weekly, what is the average hourly cost to your employer for your services? (round to two decimal places)