Question: E 1 6 - 1 0 Peanut Holdings Ltd . owns an 8 0 percent interest in Snoop Inc. Prepare a consolidation worksheet using the

E16-10 Peanut Holdings Ltd. owns an 80 percent interest in Snoop Inc. Prepare a consolidation worksheet using the information below. Assume that the fair values of Snoop Inc.'s assets and liabilities are equal to their book values.
\table[[,\table[[Peanut],[Holdings Ltd.]],\table[[Snoop],[Inc.]],Eliminations,\table[[Consolidated],[Amounts]]],[,Debit,Credit],[Assets],[Cash,96,000,36,000,,,],[Accounts receivable, net,210,000,144,000,,,],[Note receivable from Snoop Inc.,60,000,-,,,],[Inventory,246,000,216,000,,,],[Investment in Snoop Inc.,228,000,-,,,],[Property, plant, and equipment, net,720,000,312,000,,,],[Other assets,48,000,42,000,,,],[Total assets,1,608,000??,750,000??,,,],[Liabilities and Shareholders' Equity],[Accounts payable,108,000,66,000,,,],[Notes payable,120,000,96,000,,,],[Other liabilities,204,000,324,000,,,],[Non-controlling interest,-,-,,,],[Common shares,780,000,204,000,,,],[Retained earnings,396,000,60,000,,,],[Total liabilities and shareholders' equity,?bar(1,608,000),750,000,,,]]
 E16-10 Peanut Holdings Ltd. owns an 80 percent interest in Snoop

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