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.

-Taylor Bennett began his sole proprietorship on February 28,2016 by contributing $25,000 of his own money to the business.Indicate the effects of this transaction on the financial statements.