On January 1,2012,a Parent Company Acquired All of the Stock

Multiple Choice

On January 1,2012,a parent company acquired all of the stock of a subsidiary.The following data is available: The acquisition by the parent company represents a 100 percent interest in the subsidiary.On January 1,2012,the fair value of the subsidiary's assets and liabilities are equal to the book value.The parent company paid $250 for the 100 percent interest in the subsidiary.On January 1,2012,what are the total assets on the consolidated balance sheet? (Assume elimination entries are completed.)

A) $650
B) $800
C) $840
D) $1,050