Examlex
Following are selected accounts for Green Corporation and Vega Company as of December 31, 2013. Several of Green's accounts have been omitted.
Green acquired 100% of Vega on January 1, 2009, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2009, Vega's land was undervalued by $40,000, its buildings were overvalued by $30,000, and equipment was undervalued by $80,000. The buildings have a 20-year life and the equipment has a 10-year life. $50,000 was attributed to an unrecorded trademark with a 16-year remaining life. There was no goodwill associated with this investment.
Compute the December 31, 2013, consolidated land.
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North American Free Trade Agreement
A trilateral trade block agreement signed by Canada, Mexico, and the United States, aimed at reducing trading costs, increasing business investment, and helping North America be more competitive in the global marketplace.
Global Trade
International commerce that allows for the exchange of goods and services between countries, influenced by agreements, tariffs, and global economic conditions.
Canada and Mexico
Two countries in North America, each having distinct cultures, economies, and political systems, but are partners with the United States in trade agreements such as the USMCA.
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