Cala Manufacturing purchases land for $351,000 as part of its plans to build a new plant. The company pays $34,300 to tear down an old building on the lot and $50,704 to fill and level the lot. It also pays construction costs $1,693,000 for the new building and $106,867 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

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?