Unrecorded trademark with a remaining life

Reference no: EM13145788

Green obtained 100% of Vega on January 1, 2006, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2006, 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 book value of Vega at January 1, 2006.

A. $997,500

B. $857,500

C. $1,200,000

D. $1,600,000

E. $827,500

Reference no: EM13145788

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