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The City of Castletons General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year: Debits Credits Cash

The City of Castletons General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year:

Debits Credits
Cash $ 418,000
Taxes ReceivableDelinquent 590,000
Allowance for Uncollectible Delinquent Taxes $ 203,120
Interest and Penalties Receivable 26,980
Allowance for Uncollectible Interest and Penalties 11,860
Inventory of Supplies 16,800
Vouchers Payable 155,500
Due to Federal Government 66,490
Deferred Inflows of ResourcesUnavailable Revenues 402,000
Fund BalanceNonspendableInventory of Supplies 16,800
Fund BalanceUnassigned 196,010
$ 1,051,780 $ 1,051,780

Prepare a General Fund balance sheet as of June 30, 2020.

Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2020. Do not prepare the government-wide financial statements.

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CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0 CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0 CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0 CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0

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