Business, 19.12.2019 19:31 chiquita77

January 1, 2018, smith co. purchased common stock of north company for $500,000. north company has common stock outstanding of $10 million. smith owns 5% of the outstanding stock of north. on december 31, 2018, the investment in north company has a fair value of $505,000. what should smith co. record on december 31, 2018?

a. credit unrealized holding gain-oci $5,000

b. credit fair value adjustment $5,000

c. debit unrealized holding loss-net income $5,000

d. credit unrealized holding gain-net income $5,000

e. debit fair value adjustment $5,000

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January 1, 2018, smith co. purchased common stock of north company for $500,000. north company has c...