Owners invest 90000$ in the company and charge for a standard coffee mug is $4 December 1, 2018 Company agrees to a month to month lease of furnished office and storage space for a small inventory of mugs, at a cost of $800 per month, payable the first of each month The firm pays the rent for both December 2018 and January 2019 in cash on December 1 and begins to use the office space on December 1 During the other months of 2018, the firm pays the rent for each month on the first of the month, as agreed December 15, 2018 The firm hires a part time employee for $1,500 monthly The employee begins work exactly halfway through December 2018 The employee will be paid monthly, at the end of each month The salary remains the same during 2019 December 20, 2018 The firm signs an agreement with a supplier who will produce both standard and customized coffee mugs, and agrees to pay the supplier as follows $2 per mug for the first 1 2000 mugs in an order $1 50 per mug for the next 4000 mugs in an order $ 95 per mug for any order amounts exceeding 6000 mugs For example, if the firm orders 3000 mugs it will pay the supplier 2000 x $2 1000 x $1 50 or $5500 If the firm orders 6500 mugs it will pay the supplier 2000 x $2 4000 x $1 50 500 x $ 95 or $10,475 The supplier initially requires the firm to pay cash upon delivery )December 30, 2018 The firm orders, receives and pays for an initial order of 200 standard mugs from its supplier It has received no customer orders and has made no sales Answer the following questions What is the total amount of expenses for 2018 What is the total amount of assets at the end of 2018 What is the total amount of owner's equity at the end of 2018

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Owners invest 90000$ in the company and charge for a standard coffee mug is $4. December 1, 2018: Company agrees to a month-to-month lease of

Owners invest 90000$ in the company and charge for a standard coffee mug is $4.
December 1, 2018: Company agrees to a month-to-month lease of furnished office and storage space for a small inventory of mugs, at a cost of $800 per month, payable the first of each month. The firm pays the rent for both December 2018 and January 2019 in cash on December 1 and begins to use the office space on December 1. During the other months of 2018, the firm pays the rent for each month on the first of the month, as agreed.
December 15, 2018: The firm hires a part-time employee for $1,500 monthly. The employee begins work exactly halfway through December 2018. The employee will be paid monthly, at the end of each month. The salary remains the same during 2019.
December 20, 2018: The firm signs an agreement with a supplier who will produce both standard and customized coffee mugs, and agrees to pay the supplier as follows: $2 per mug for the first 1-2000 mugs in an order; $1.50 per mug for the next 4000 mugs in an order; $.95 per mug for any order amounts exceeding 6000 mugs. For example, if the firm orders 3000 mugs it will pay the supplier 2000 x $2 + 1000 x $1.50 or $5500. If the firm orders 6500 mugs it will pay the supplier 2000 x $2 + 4000 x $1.50 + 500 x $.95 or $10,475. The supplier initially requires the firm to pay cash upon delivery.
)December 30, 2018: The firm orders, receives and pays for an initial order of 200 standard mugs from its supplier. It has received no customer orders and has made no sales.