CAPITOL GOOD WORKS ORGANIZATION (CGWO)
Fiscal Year Ended December 31, 2021
WEEK 9 HOMEWORK: ENTER BEGINNING TRIAL BALANCE
The Capitol Good Works Organization (CGWO) is beginning its new fiscal year with new
software for recording and tracking transactions and preparing its financial statements. You
have been provided with a chart of accounts and a trial balance as of the end of the prior fiscal
year, 12/31/2020.
You have two goals in this week’s homework: First, print the chart of accounts and familiarize
yourself with it. Second, you will enter the beginning trial balance amounts in the Excel
template.
Important Notes:
• In the Excel template, you will notice that all fields requiring responses have a shaded
highlight. They are also marked for students using assistive technology. Make sure you
don’t miss any fields!
• Restriction codes must be selected for all revenues, and program codes must be
selected for all expenses .
General
Ledger
Code Account Description
General
Ledger
Code Account Description
11000 Cash 41001 Contributions
12000 Investments 41002 In kind contributions
13000 Pledges receivable 42000 Net Assets released from restriction
14000 Grants receivable 43001 State grant revenues
15000 Other receivables 43002 Federal grant revenues
16000 Prepaid expenses 44001 Membership dues
17001 Land 44002 Program service fees
17002 Buildings and improvements 45000 Investment earnings
17003 Leasehold improvements 51001 Salaries
17004 Equipment 51002 Payroll taxes
17500 Accumulated depreciation 51003 Employee benefits
18000 Investments endowment 52001 Professional Services
21000 Line of credit 52002 Supplies
22000 Accounts payable 52003 Telephone
24000 Lease incentive liability 52004 Postage and shipping
ACC410 – Week 9 Homework
Adapted from Government and Not-for-Profit Accounting: Concepts & Practices, 9th edition,
by Granof, Khumawala, and Calabrese, Wiley Publishing.
25000 Notes payable 52005 Rent
31000 Net assets 52006 Printing and artwork
52007 Local transportation
52008 Conferences, Meetings and Conventions
52009 Scholarships, assistance to individuals
52011 Depreciation expense
52012 Interest expense
52013 Other expense
60000 Gain or loss
Program
Codes
100 Physical and Social Development
200 Supplementary Education
300 Community Development and Organization
400 Scholarships
500 Management and General
600 Fundraising
Restriction Codes
1 Without donor restrictions
2 With donor restrictions