Indicate How Each Event Affects the Elements of Financial Statements

Essay

Indicate how each event affects the elements of financial statements.Use the following letters to record your answer in the box shown below each element.Use only one letter for each element.You do not need to enter amounts.

-The Premier Corporation began operations on January 1,2016 by issuing 10,000 shares of no-par stock for $22 per share.Indicate the effects of this transaction on the financial statements.