What entry would Golden Rams make a December 31, 2017, to record the investment in COB if it chooses to report this security using the fair value option? What entry would Golden Rams make a December 31, 2017, to record the investment in Peace and ASU assuming that Golden Rams did not select the fair value option for these investments?
| Event | Accounts Title | Dr | Cr | |
| 1 | Unrealized gain/(loss) on Investment | $10,000 | ||
| Equity Investment (50000-40000) | $10,000 | |||
| 2 | Fair value Adjustment | 5000 | ||
| Unrealized gain/(loss) on Investment | 5000 | |||
| Cost | MV | Gain/(loss) | ||
| COB common stock | 30000 | 23000 | -7000 | |
| ASU 10% corporate Bonds | 20000 | 32000 | 12000 | |
| Total | 5000 |
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