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.
Definitions:
Federal Protection
Safeguards provided by a federal government to protect citizens, natural resources, or historical sites, often through legislation or law enforcement agencies.
Slave Labor
The coerced labor of individuals who are owned by others, a practice that was historically common in many parts of the world, including the United States until the 19th century.
Southern
Pertaining to or characteristic of the south part of a region, country, or city.
Family Life
The daily interactions, routines, and relationships among members of a household, encompassing the various dynamics and structures of families.
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