Tell Tale Books Acquired All the Stock of Ringlet Publishing

Tell Tale Books acquired all the stock of Ringlet Publishing by purchasing the shares from their current owners for $50 million paid in cash.Ringlet Publishing has assets with a fair value of $50 million.How would Ringlet Publishing account for the acquisition?

A) No journal entry is necessary.
B) Ringlet Publishing would increase Cash by $50 million and decrease Property,Plant,and Equipment by $50 million.
C) Ringlet Publishing would increase Cash by $50 million and increase Paid-in Capital by $50 million.
D) Ringlet Publishing would increase Cash by $20 million and decrease Property,Plant,and Equipment by $20 million.
E) Ringlet Publishing would increase Cash by $50 million; decrease Property,Plant,and Equipment by $20 million; and increase Paid-in Capital by $30 million.