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Exercise 11-13 Brad Jackson works for a Bob's Burgers takeout for straight-time earnings of $10.50 per hour with time and a half for hours in excess of 35 per week. Jackson's payroll deductions include income tax of 25 percent, CPP of 4.95 percent on earnings (account for the $3,500 basic annual exemption), and El of 1.88 percent on earnings. In addition, he contributes $10 per week to his Registered Retirement Savings Plan (RRSP). Assume Jackson worked 40 hours during the week. He has not yet reached the CPP or El maxi- mum earning levels. Required 1. Compute Jackson's gross pay and net pay for the week. 2. Make a June 14 general journal entry to record the restaurant's wage expense for Jackson's work, including his payroll deduc- tions and the employer payroll costs. Round all amounts to the nearest cent. An explanation is not required. Current Liabies and Payroll 329 Requirement ! Requirement 2 General Journal ACCOUNT TITLES AND EXPLANATIONS POSTRER DEBIT CRED DATE Exercise 11-13 Brad Jackson works for a Bob's Burgers takeout for straight-time earnings of $10.50 per hour with time and a half for hours in excess of 35 per week. Jackson's payroll deductions include income tax of 25 percent, CPP of 4.95 percent on earnings account for the $3,500 basic annual exemption), and El of 1.88 percent on earnings. In addition, he contributes $10 per week to his Registered Retirement Savings Plan (RRSP). Assume Jackson worked 40 hours during the week. He has not yet reached the CPP or El maxi- mum earning levels. Required 1. Compute Jackson's gross pay and net pay for the week. 2. Make a June 14 general journal entry to record the restaurant's wage expense for Jackson's work, including his payroll deduc- tions and the employer payroll costs. Round all amounts to the nearest cent. An explanation is not required

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