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:

Power Distribution System

A network of electrical components deployed to distribute and deliver power from the supply system to the consumer effectively.

Diagram

A diagram is a simplified drawing representing the structure or workings of something, serving as a plan, schematic, or model.

Phase Voltage

The voltage measured across a single phase in a polyphase electrical system, important for understanding the distribution of power in systems like three-phase AC currents.

Line Voltage

The voltage present in the main electrical power lines, typically higher than what is safe for direct consumer use without transformation.