Use the following to answer questions $1113$

On July $1$st 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 $7\%$ 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 $8\%$ 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 $9\%$ interest rate and a fiscal year$-$end March $31.$

Use the following to answer questions $1418$

You have been working at a local distributor. Your bi$-$weekly salary is $$2,000.$ Your average income tax rate is $15\%$

plus FICA taxes at $7\mathrm{.}65\%.$ Your employer provides health insurance to you which costs your employer $$350$ per pay

and costs you $$25$ per pay $($assume this is after tax$).$ Determine the following based on your pay $($assume you have

already made more than $$7,000$ this year so that unemployment taxes do not apply$).$

$14.$ $$\_\_\_\_\_\_\_\_$ 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?

$16.$ $$\_\_\_\_\_\_\_\_$ How much will your employer direct deposit into your bank account for your pay?

$17.$ $$\_\_\_\_\_\_\_\_$What is your total cost to your employer for the bi$-$weekly pay period?$18.$ $$\_\_\_\_.\_\_\_\_$ If you work $80$ hours bi$-$weekly, what is the average hourly cost to your employer for your services?

$($round to two decimal places$)$