South company purchased north company. south company paid $550,000 cash and assumed all of north company’s liabilities. on the date of purchase, north’s books showed tangible assets of $500,000, liabilities of $20,000, and equity of $480,000. an appraiser assessed the fair market value of the tangible assets at $530,000 on the acquisition date. which of the following journal entries would be required to record the purchase of north company on south company’s books?

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?