Boilermaker House Painting Company incurs the following transactions for September.

1.Pay dividends of $2,000 to stockholders.

2.Purchase a building for $60,000 cash.

3.Pay advertising of $1,000 for the current month.

4.Purchase land for $25,000 by issuing note payable.

5.Provide services to customers for $19,000.

6.Issue common stock for $50,000.

Required:

For each transaction, describe the dual effect on the accounting equation. For example, for the first transaction,

(1) Assets increase

(2) Stockholders’ equity increases.