I am having a difficult time with this problem.
If a company acquires another company from Canada whose only asset is a piece of land, how do I prepare a statement of changes in owner's equity?
I also have to record the journal entries. I know how to make the conversion from Canadian to US money, and I think I know how to make the journal entry for the first year, but after that what do I do??

1) Prepare a Balance Sheet before the event.
2) Prepare a Balance Sheet after the event.

The difference in EQUITY will be portrayed
By the two statements.