Florida General Contractor
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1. Who is Eligible for a SBA Loan?
2. The General Ledger is properly completed when all
the:
3. The form used to report and pay annual Federal un-
employment taxes is
4. What method of inventory assume that the first mate-
rial purchased is used first?
5. A construction company's sales in 2006 were 200,000.
In order to show a profit of 45%, the cost of goods sold
would be?
6. Builder's who have wide variations in their busi-
ness volume from month to month should use the
___________ method?
7. The accrual system of bookkeeping takes into ac-
count:
8. Ann takes money from petty cash. She should replace
it with
9. Bob's financial statement showing his equity in the
company is referred to as a/an:
10. Using the double-entry bookkeeping method, cash
accounts would be entered as__________ balances?
11. The contractor's purchase journal treats total charge
purchases as
, Florida General Contractor
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12. A construction company wants to determine their net
worth. The formula would be
13. A construction company's income statement may also
be referred to as
14. Current ratio of 2.5 to 1 and current assets of 200,000
would have how much in current liabilities?
15. All of the following are used to compute taxable wages
subject to Federal Unemployment Tax (FUTA), except
16. The current ratio of 1.5 to 1 mean
17. The ratio favored by loan officers as a good condition
of financial health is
18. What is the function of form 8109?
19. Using the percentage of completion method for rec-
ognizing income , what is the gross profit to date of
construction project that has a contract amount of
130,000, cost to date is 99,970, and cost to complete
the projet is 11,760.
20. Based on the following statement:
Subcontractor "A" 62,400
Contractor Income 87,560
Misc Income 26,344
Construction Material s 29,340
Sales and Overhead 19,670
What is the gross profit?
, Florida General Contractor
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21. Based on the following statement:
Subcontractor "A" 62,400
Contractor Income 87,560
Misc Income 26,344
Construction Material s 29,340
Sales and Overhead 19,670
What is net profit?
22. Based on the following statement:
Subcontractor "A" 62,400
Contractor Income 87,560
Misc Income 26,344
Construction Material s 29,340
Sales and Overhead 19,670
How much would the owner's equity (net worth) on
the balance sheet be increased
23. Which of the assets cannot be depreciated?
24. According to the Builder's Guide to Accounting, which
statement is false?
25. A company's bills that are mailed out but unpaid and
bills that a company owes are called
26. A construction company recognizes income only on
the portion of money received or charges that are
billed for work completed. This is called
27. Cash sales include
28. How are day to day expenses handled best
Study online at https://quizlet.com/_hvuiy0
1. Who is Eligible for a SBA Loan?
2. The General Ledger is properly completed when all
the:
3. The form used to report and pay annual Federal un-
employment taxes is
4. What method of inventory assume that the first mate-
rial purchased is used first?
5. A construction company's sales in 2006 were 200,000.
In order to show a profit of 45%, the cost of goods sold
would be?
6. Builder's who have wide variations in their busi-
ness volume from month to month should use the
___________ method?
7. The accrual system of bookkeeping takes into ac-
count:
8. Ann takes money from petty cash. She should replace
it with
9. Bob's financial statement showing his equity in the
company is referred to as a/an:
10. Using the double-entry bookkeeping method, cash
accounts would be entered as__________ balances?
11. The contractor's purchase journal treats total charge
purchases as
, Florida General Contractor
Study online at https://quizlet.com/_hvuiy0
12. A construction company wants to determine their net
worth. The formula would be
13. A construction company's income statement may also
be referred to as
14. Current ratio of 2.5 to 1 and current assets of 200,000
would have how much in current liabilities?
15. All of the following are used to compute taxable wages
subject to Federal Unemployment Tax (FUTA), except
16. The current ratio of 1.5 to 1 mean
17. The ratio favored by loan officers as a good condition
of financial health is
18. What is the function of form 8109?
19. Using the percentage of completion method for rec-
ognizing income , what is the gross profit to date of
construction project that has a contract amount of
130,000, cost to date is 99,970, and cost to complete
the projet is 11,760.
20. Based on the following statement:
Subcontractor "A" 62,400
Contractor Income 87,560
Misc Income 26,344
Construction Material s 29,340
Sales and Overhead 19,670
What is the gross profit?
, Florida General Contractor
Study online at https://quizlet.com/_hvuiy0
21. Based on the following statement:
Subcontractor "A" 62,400
Contractor Income 87,560
Misc Income 26,344
Construction Material s 29,340
Sales and Overhead 19,670
What is net profit?
22. Based on the following statement:
Subcontractor "A" 62,400
Contractor Income 87,560
Misc Income 26,344
Construction Material s 29,340
Sales and Overhead 19,670
How much would the owner's equity (net worth) on
the balance sheet be increased
23. Which of the assets cannot be depreciated?
24. According to the Builder's Guide to Accounting, which
statement is false?
25. A company's bills that are mailed out but unpaid and
bills that a company owes are called
26. A construction company recognizes income only on
the portion of money received or charges that are
billed for work completed. This is called
27. Cash sales include
28. How are day to day expenses handled best
