Use the Information That Follows Concerning Ulrich Computer for the Year

question 59

Essay

Use the information that follows concerning Ulrich Computer for the year ending December 31, 2018 for problems
Several accounts and amounts from the financial statements of Ulrich Computer appear below for the year ending December 31, 2018.
$\begin{array}{ll}\text { Cash } & \$ 11,000 \\\text { Sales Revenue } & 140,000 \\\text { Notes Receivable, 6-month } & 90,000 \\\text { Cost of goods sold } & 60,000 \\\text { Taxes Payable } & 31,000 \\\text { Salaries Expense } & 8,000 \\\text { Accounts Receivable } & 34,000\\\text { Dividends } & 42,000 \\\text { Equipment } & 150,000 \\\text { Accounts Payable } & 8,000 \\\text { Contributed Capital } & 30,000 \\\text { Retained Earnings } & 40,000 \\\text { Rent and Utilities Expense } & 4,000 \\\text { Income Tax Expense } & 20,000 \\\text { Inventory } & 21,000\end{array}$
-Calculate Ulrich's total current assets.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence among countries.

Canadian Trade

The exchange of goods, services, or both within Canada or between Canada and other countries, encompassing both imports and exports.

South Korean Government

The administrative and political systems that govern the Republic of Korea, encompassing its executive, legislative, and judicial branches.

North Korea

A country in East Asia, officially known as the Democratic People's Republic of Korea, characterized by its totalitarian regime and significant political and social isolation from most of the world.