Cosby Corporation acquired 60 percent of Huxtable Corporation's voting common stock. Huxtable's buildings and equipment...
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Accounting
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
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