oblem 3-26 (Algo) Consolidated Worksheet and Balance Sheet on the Acquisition Date (Equity ethod) LO34,35 eanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $335,700 on January 1, 20X8, when the bok value of Snoopy's net assets was equal to $373,000. Peanut uses the equity method to account for investments. Trial balance ato for Peanut and Snoopy as of January 1,208, follow: Required: a. Prepare the journal entry on Peanut's books for the acquisition of Snoopy on January 1,20x8. b. Prepare a consolidation worksheet on the acquisition date, January 1,208. c. Prepare a consolidated balance sheet on the acquisition date, January 1,208. Complete this question by entering your answers in the tabs below. Prepare a consolidation worksheet on the acquisition date, January 1,208. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. Foraccounts where multiple odjusting entries are required, combine all debit, entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine aif credit entries into one amount and enter this amount in the credit column of the worksheet: Required: n. Prepare the joutpal entry on Peanut's books for the acquisition of Snoopy on January 1,20X8. b. Prepare a consolidation worksheet on the acquistion date, January \&, 208. c. Prepare a consolidated balance sheet on the acquistion date, January 1,20X8. Complete this question by entering your answers in the tabs below. Prepare a consolidgted balance sheet on the acquisition date, January 1,203. Amounts to be deducted should be indicated by a minus sign. Pequired: a. Prepare the joumal entry on Peanurs books for the acculstion of Snoopy on Jansiary 1,20x8. b. Prepare a consoldation worksheet on the acguisition date, January 1,20x8. c. Prepare a consolideted balance sheet on the acquisition date, Janiscy 1,20X8. Complete this question by entering your answers in the tabs below. Prepore the joumal enty on Peanct's books for the acquisition of Snobpy on January 1, 20xa, Journal entry worksheet Fecord the incal imeutment in snocor company Nute Enter deber before credta. oblem 3-26 (Algo) Consolidated Worksheet and Balance Sheet on the Acquisition Date (Equity ethod) LO34,35 eanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $335,700 on January 1, 20X8, when the bok value of Snoopy's net assets was equal to $373,000. Peanut uses the equity method to account for investments. Trial balance ato for Peanut and Snoopy as of January 1,208, follow: Required: a. Prepare the journal entry on Peanut's books for the acquisition of Snoopy on January 1,20x8. b. Prepare a consolidation worksheet on the acquisition date, January 1,208. c. Prepare a consolidated balance sheet on the acquisition date, January 1,208. Complete this question by entering your answers in the tabs below. Prepare a consolidation worksheet on the acquisition date, January 1,208. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. Foraccounts where multiple odjusting entries are required, combine all debit, entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine aif credit entries into one amount and enter this amount in the credit column of the worksheet: Required: n. Prepare the joutpal entry on Peanut's books for the acquisition of Snoopy on January 1,20X8. b. Prepare a consolidation worksheet on the acquistion date, January \&, 208. c. Prepare a consolidated balance sheet on the acquistion date, January 1,20X8. Complete this question by entering your answers in the tabs below. Prepare a consolidgted balance sheet on the acquisition date, January 1,203. Amounts to be deducted should be indicated by a minus sign. Pequired: a. Prepare the joumal entry on Peanurs books for the acculstion of Snoopy on Jansiary 1,20x8. b. Prepare a consoldation worksheet on the acguisition date, January 1,20x8. c. Prepare a consolideted balance sheet on the acquisition date, Janiscy 1,20X8. Complete this question by entering your answers in the tabs below. Prepore the joumal enty on Peanct's books for the acquisition of Snobpy on January 1, 20xa, Journal entry worksheet Fecord the incal imeutment in snocor company Nute Enter deber before credta