On January 1,20X9,Peanuts Corporation Acquired 80 Percent of Schulz Corporation's

Multiple Choice

On January 1,20X9,Peanuts Corporation acquired 80 percent of Schulz Corporation's voting common stock.On that date,Peanuts had equipment with a book value of $50,000 and a fair value of $200,000.Schulz's buildings and equipment had a book value of $300,000 and a fair value of $300,000 at the time of acquisition.What will be the amount at which buildings and equipment will be reported in consolidated statements immediately following the acquisition?

A) $350,000
B) $340,000
C) $280,000
D) $300,000