Cosby Corporation Acquired 60 Percent of Huxtable Corporation's Voting Common

Multiple Choice

Cosby Corporation acquired 60 percent of Huxtable Corporation's voting common stock.Huxtable's buildings and equipment had a book value of $200,000 and a fair value of $250,000 at the time of the acquisition.What will be the amount at which Huxtable's buildings and equipment will be reported in consolidated statements on the acquisition date?

A) $150,000
B) $200,000
C) $230,000
D) $250,000