What version of Premiere Elements are you using and on what computer operating system is it running? Assuming a NTSC set up...
Generalized answer is....
Over the Timeline is a timecode like display 00;00;00;00 (hours;minutes;seconds;frames). That can also be set for Frames.
At the Timeline level, you can toggle between the two display formats by holding down the Ctrl key of the computer main keyboard and clicking once on the time format that you see.
Alternatively, you can go to Edit Menu/Project Settings/General and set the Display Format
a. 30 fps Drop-Frame Code
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