ocal Governments The City of Castleton’s General Fund had the following post-closing trial bal. ance at June 30, 2019, the end of its fiscal year: 4-27. Operating Transactions and Financial Statements.(LO4-1 through LO4-3) Debits Credits $276,120 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable Allowance for Uncollectible Interest and Penalties Inventory of Supplies Vouchers Payable Due to Federal Government Deferred Inflows of Resources-Unavailable Revenues Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Unassigned 183,000 6,280 6,100 $21,960 1,160 48,500 29,490 166,160 6,100 198,130 $471,500 $471,500
198,130 Fund Balance- Unassigned $471,500 $471,500 During the year ended June 30, 2020, the following transactions, in summary form, with subsidiary ledger detail omitted, occurred:
9. Total payroll during the year was $819,490. Of that amount, $62,690 wa withheld for employees’ FICA tax liability, $103,710 for employees’ fed- eral income tax liability, and $34,400 for state taxes; the balance was paid to employees in cash. 10. The employer’s FICA tax liability was recorded for $62,690. 11. Revenues from sources other than taxes were collected in the amount of $947,000.
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