Pus Inc. was recently offered a big government project. However, since it lacked the funds and personnel REQUIRED to handle the project, Pus’s management decided to create a joint venture with Tod Unincorporated, using a venture investment of $300,000 for 50 percent ownership on January 1, 2014. Comparative trial balance at December 31, 2014, is as follows (in thousands):

ADDITIONAL INFORMATION

1. Tod’s net income during 2014 was $30,000.

2. Pus uses the equity method to account for transactions.

REQUIRED: Prepare a proportionate consolidated workpaper for Pus and Tod for reporting purposes.
 

Debits Other assets Investment in Tod-beginning Expenses including COGS Pus Tod $800 $680 300 100 $1,200 100 $780 (continued)