Assets = Liabilities + Owners' Equity Contributed Capital Earned Capital Retained Earnings (Net Income - Dividends) Revenues /Gains - Expenses/Losses 10 This is of course the Accounting Model, with the ten elements of the financial statements identified by the superscripts. Using the superscripts, identify how the following transactions impact the financial statements (i.e., increase or decrease each element) and by how much. Be sure to identify all affected elements! That is, if a revenue (7) goes up, then of course so does net income (6) and owners' equity (3). A. Issuing $200,000 Bonds at a Premium of $10,000. B. Recording a semi-annual payment of $8,000 with an associated interest expense of $7,800. C. Retiring the bonds early, when the book value of the bonds equals $207,000, by paying $205,000 in cash. 52020 ta....pdf