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Cities of Smithville problem, 18th Edition. Chapter 4, 4-a-5 [Para. 4-a-5] General Fund payrolls for the year totaled $3,179,547. Of that amount, $667,705 was withheld
Cities of Smithville problem, 18th Edition. Chapter 4, 4-a-5
[Para. 4-a-5] General Fund payrolls for the year totaled $3,179,547. Of that amount, $667,705 was withheld for employees' federal income taxes: $453,291 for federal payroll taxes; $238,466 for retirement funds administered by the state government; and the remaining $1,820,085 was paid to employees in cash. The City of Smithville does not record encumbrances for payrolls. The payrolls were chargeable against the following functions: General Government $663,678 Public Safety 1,539,302 Public Works 542.765 Culture and Recreation 433,802 Total $3,179,547 Required: Make summary journal entries for payroll in both the General Fund and governmental activities general journals for the yearStep by Step Solution
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