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Describe the effect of each transaction on assets, liabilities, and stockholders equity. For example, the...

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Accounting

Describe the effect of each transaction on assets, liabilities, and stockholders equity. For example, the first answer is (1) Increase in assets and increase in stockholders equity.
Analyze the effect of transactions on assets, liabilities, and stockholders equity.
E3.2(LO 1), AP Brady Company entered into these transactions during May 2025, its first month of operations.
Stockholders invested $40,000 in the business in exchange for common stock of the company.
Purchased computers for office use for $30,000 from Ladd on account.
Paid $4,000 cash for May rent on storage space.
Performed computer services worth $19,000 on account.
Performed computer services for Wharton Construction Company for $5,000 cash.
Paid Western States Power Co. $8,000 cash for energy usage in May.
Paid Ladd for the computers purchased in (2).
Incurred advertising expense for May of $1,300 on account.
Received $12,000 cash from customers for contracts billed in (4).

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