Indicate How Each Event Affects Thefinancial Statements

question 15

Essay

Indicate how each event affects thefinancial statements. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA.You do not need to enter dollar amounts
Atlantic Oil Company had 10,000,000 common shares outstanding. The shares had been issued at $14 per share. The stock of Atlantic Oil Co. was trading at $14 per share on March 27 when the company announced that it had recently discovered a large oil reserve. The market value of the company's stock immediately went up to $28 per share.

---

Definitions:

Demyelinates

Demyelination refers to the process by which the myelin sheath, a protective covering of the nerve fibers in the brain and spinal cord, is damaged or destroyed, affecting the conduction of nerve impulses.

Somatic Motor Neurons

Neurons that transmit impulses from the central nervous system to skeletal muscles, facilitating voluntary muscle movements.

Schwann Cells

Specialized cells in the peripheral nervous system that wrap around nerve fibers, providing electrical insulation and helping in the regeneration of damaged nerves.

Oligodendrocytes

Glial cells in the central nervous system that produce myelin, the insulating layer around neurons.