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 Craig Corporation began operations on January 1,2016 by issuing 5,000 shares of $6 par-value stock at $12.Indicate the effects of this transaction on the financial statements.