6b

Peanut Company acquired 100 percent of Snoopy Company's outstanding common stock for $305,000 on January 1 , 20x8, when the book value of Snoopy's net assets was equal to $305,000. Peanut uses the equity method to account for Investments. Trial balance data for Peanut and Snoopy as of December 31,208, are as follows: (Assume the company prepares the optional Accumulated Depreclation Elimination Entry) Complete this question by entering your answers in the tabs befow. Prepare a conselidation worksheet for 208. Note: Values in the first two cofumins (the "parent" and "subsid ary" balances) that are to be deducted should be indicated with a minus signt, whlle all values in the "Consolidation Entrius" columns sfiould be enturtid as positive values. Fur docounts where multiple adjusting entries are required, combire all debit entries into one ampunt and enter this ammant in the debil column af the worksheet. Similarfy. combine all credit entries inte one amount and enter this amount in the credit column af the worksheet