$(2)$ Consolidation Worksheet: $($You can enter amounts in thousands.$)$

Peanut and Snoopy

Consolidation Worksheet as of December $31,20$X$9$

$($P uses the EQUITY method.$)$

Balance Sheet

Assets: Please SHOW WORK if the number is not provided in the question.

Note: You might want to use the following to analyze P$\text{'}$s IVST in S$,$ but it is not required.

Hint: Remember that difference in $\frac{R}{E}=$ difference in IVST in $S.$

a$.$ Assume that Peanut uses the EQUITY method to account for its investment in Snoopy for

internal reporting purposes. Prepare the consolidation entries and complete the consolidation

worksheet for $209$ on the following page.

$(1)$ Consolidation Entries for $20$X$9$: $($Hints: There are four entries if you use my approach or two

entries if you follow the textbook's.$)(2)$ Consolidation Worksheet: $($You can enter amounts in thousands.$)$

Peanut and Snoopy

Consolidation Worksheet as of December $31,20$X$9$

$($P uses the EQUITY method.$)$

Balance Sheet

Assets: