Global Warming Also Called Climate Change - Free Essay Example

Sample details Pages: 2 Words: 529 Downloads: 5 Date added: 2019/03/14 Category Ecology Essay Level High school Tags: Global Warming Essay Did you like this example? Global Warming also called climate change is the increase in higher temperature of the Earth. Also, because the amount of the human generated greenhouse gases absorbing heat from the sun and then sustaining it within the atmosphere. The causes of Global Warming is a very serious environmental issue, with excess release of Carbon Dioxide into the air we the people and any life form breath in. There are two different categories which is one of the many causes of global warming. The â€Å"natural† and â€Å"human influences†. One of many of human influences are things like mining, the deforestation, and industrial revolution. The burning of fossil fuels is one of the main sources of CO2 emissions in the Unites States (Global Warming Science, 2017). With factories and manufacturing plants burning fossil fuels like making coal into power and oil. Since the 1990s, there has been increases in CO2 in the atmosphere ( US Environmental Protection Agency, 2016). Don’t waste time! Our writers will create an original "Global Warming Also Called Climate Change" essay for you Create order There are many harmful effects of global warming. Such as, heat waves, droughts, heavy rainfall/ snowfall, species extinction, and many more things. Some major consequences are that if the Greenland ice sheet were to melt all completely, sea level would rise leaving animals, humans, and people homeless. Climate change like hurricanes, droughts, heat waves, and countless other very disastrous outcomes that come with it (Ocean Plastics Pollution, 2018). Climate change is already being shown like her in California, we had a drought some few years back and it hasn’t rained as much as it did back in early 2000s. These increases in temperature means that there has been an increase in the oceans temperature and destruction of coral reefs and killing many sea animals. Pollution in our seas could be a result of that and we consume these sea creatures that could makes us very ill. Global warming will cause ice glaciers to melt away and having animals like polar bears, seals, and many other animals without a habitat. This could even cause extinction to these animals. The destruction of our forests is a contributor, trees help bring us oxygen as, the trees take in carbon dioxide and releases oxygen to breath. Some ways that could help with global warming would be reducing gasoline use and having sort of a like hybrid car or walk to work, bike, or any of these ways can help reduce carbon dioxide and could save cost. Because cars have a major impact on the ozone of our planet. Trying to recycle can reduce garbage with recycling plastic bags, bottles, papers, and etc. We cannot really stop global warming but we can try and help slow it down by trying to reduce our everyday uses and try and conserve. Having renewable energy like solar power which will help keep some pollution off and reduced. Planting more trees would help and reducing deforestation because the temperatures are increasing and trees help improve the temperature on earth. But, these solutions cannot be done if it isn’t enacted and should be something locally, nationally, and internationally to stop these major effects of global warming to continue. This would help the earth, animals, and us human to prosper and live in a healthier planet.

Marxism and Religion Essay - 1315 Words

Marxism and Religion Throughout Karl Marx’s life he was not thought to be anything special, just a regular working man, but in reality Marx was a â€Å"philosopher, a journalist, an economist, a historian, and a moralist.†[1] Even with all of this hard work most people did not think that he would amount to much. Little did most of the people who lived during Marx’s lifetime know how big of an impact he would have on the world within the next century. Karl Marx, the philosopher, had to have one of the biggest impacts on the world to this day. Marx’s most well known following came from the Communist nation the Soviet Union. The Soviets believed in all of his philosophical writing and thoughts of religion. Not†¦show more content†¦The Marxist thought is that there is no afterlife, and only the life that counts is that which human beings live on this planet. The only â€Å"paradise†¦[is] a classless society.†[5] The afterlife is a belief that is very basic to Christian teaching. While there are many Christians that are not sure of the criteria by which to reach heaven, or where it is, they do believe that life does not end with death on this planet. To many religious people their paradise is the time after they die. There is one area that both religious believers and Marxist agree; both believe that the other is being brainwashed, but that is where it all ends. Marxists believe that th ey are correct when they say, â€Å"there is no God above [the Communist] movement.†[6] That comment contradicts what most religious people believe, and which is that God is the Supreme Being, He is almighty. This is where Marxists feel that religious people are brainwashed. On the issue of who is above God, it is evident that Marxists and religious people are on opposite ends of the spectrum. Another issue that deals with individuals is the idea of property. Marxists hold the belief that government should take all private property and distribute it equally among states.[7] That is in no way the belief of the different religions. Religious people have no problem with individuals living a comfortable life, or even wealthy, as long as the way in which the money is obtained isShow MoreRelatedMarxism in Metropolis Essay633 Words   |  3 Pagesabout modern day theories and views. The movie entails many views on Marxism, capitalism, Industrialism, and organized religion, m ostly. Marxism is supported in the movie, capitalism is not supported in the movie, Industrialism is partially supported, and Organized Religion is not supported. Marxism is shown is supported in Metropolis by showing the horrid results of what could have been prevented if Marxism had been used. Marxism is the theory that the working class deserves respect, because withoutRead More Functionalist View on the Role and Functions of Religion in Society716 Words   |  3 PagesFunctionalist View on the Role and Functions of Religion in Society Assess the view that sociological arguments and evidence support the Functionalist view of the role and functions of religion in contemporary society. Functionalists believe that religion is a conservative force, and an institution which adds to the requirements of society. They say it ultimately operates as an agency of socialisation. Durkheim (1912) said that all societies are separated intoRead MoreEssay on The Role of Religion in Society1005 Words   |  5 PagesRole of Religion in Society The role of religion in society is definately a dynamic one. The relationship between both religion and society is always changing. 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Marx’sRead MoreThe Brave New World By Aldous Huxley906 Words   |  4 PagesIn the book Brave New World by Aldous Huxley, Marxism is seen through the whole story. In the story everybody serves the society in the world state. Society makes everybody’s needs and are fulfilled, as well as some of the characters show us Marxism in the way they act or where conditioned. Religion is as well seen in the novel and connected to Marxism. Socioeconomic class is one of the main literacy of Marxism shown in the novel due to human behavior. In the beginning it starts off how in the worldRead MoreEssay about Karl Marx and His View on Religion1186 Words   |  5 Pagesand His View on Religion Karl Marx, the founder and main advocator of his Marxist philosophy, wrote the Communist Manifesto in 1848. This document was the basis for all of his thoughts and ideas of the world at the time being. One of the major topics that he spoken on was how religion affected the society and how it was an institution that was not actually necessary to exist. Marxist VS Religion Marx saw religion as an evil thatRead MoreMarxism And The Communist Manifesto915 Words   |  4 Pagesconstant struggle between the proletariat, the working class population, and the bourgeoisie, the upper class of society with significant capital. One of the better known ideologies is Marxism, which explains how a nation should form itself to develop a communist society. Karl Marx illustrates his ideas of Marxism in The Communist Manifesto. A point of controversy within the Communist Manifesto addresses how nationalism does not help form the communist state but rather rhetorically seeks to denyRead MoreDr Ali Shariati And The Iranian Revolution1466 Words   |  6 Pagesopinions according to his views towards Marxism as some thinks he was against it and others that he was a true Marxist, hiding behind Islam. He was separating himself from clerical Islam by often criticizing ‘traditional ulama’ of betraying its initial targets. This essay will be divided in three parts. First part will present a brief biography of Ali Shariati, the second will discuss his main views and ideas and his attitude towards Clericalism and Marxism. And the third will be an overview ofRead MoreReligion and Social Change1217 Words   |  5 Pagesâ€Å"Religion can be both a conservative force and an initiator of social change†. To what extent to sociological arguments/evidence support this view. There is great debate concerning the role of religion in society, and whereas some claim that religion acts as a conservative force (that is, it inhibits change), others argue that religion is a major contributor to social change. 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Marcel Duchamp Pablo Picasso and Andy Warhole Free Essays

The artistic exchange of ideas and influences can profoundly affect the art world’- Explore this statement with reference to a range of artists and artworks. Artistic exchange is a conceptual idea involving the exchange of artistic methods, ideas, and other elements of an artist’s practice; and if an artist is a pioneer or an innovator, their ideas can resonate through exchange to transform the entire art world. Throughout the 20th Century the shaping of the art world came into play through ideas, expression, education and one result of this was the age of Modernism. We will write a custom essay sample on Marcel Duchamp Pablo Picasso and Andy Warhole or any similar topic only for you Order Now There was much social ad political unrest sweeping through Europe, during the beginning of the twentieth century which contributed to the breaking of the traditional art barriers. The works of Pablo Picasso, Marcel Decamp and Andy Warhol strongly affected the art world with their individual yet diverse techniques and styles. These artists broke away from traditional art and its boundaries in order to exchange ideas and conventions regarding the aesthetics which opposed accepted societal standards. These ideas were profoundly influenced the art world. Marcel Duchess’s art making practice was characterized by its humor, variety, the unconventionality of its media and its persistent exploration of art’s boundaries. Decamp was involved with the avian-garden movements during the Modernist period, and as an iconoclast, he abandoned these artistic principles, with the aim of rejecting convention such as his distaste for art that was pleasing to the eye’. Works exemplifying these beliefs include Bicycle Wheel (1913) and L. H. O. O. Q (1919) which caused controversy over their acceptance as ‘art’. Bicycle Wheel is a redeemed (a tool supporting an upside-down bicycle wheel) that Decamp has decentralized as well as displacing its original function, thereby transforming an industrial, mass produced object into a work of art. Duchess’s art making approach could be considered satirical, as it often ridiculed the ideals established by society. L. H. O. O. Q is an altered postcard of the Mona Lisa that Decamp has satirized by drawing a moustache and goatee on the face of this iconic figure. This notion of ‘defacing’ a Ad Vinci masterpiece was very shocking to the art world during the early 20th century, revoking controversy as it was not handmade, but redeemed and ridiculous, thereby questioning what really defined art. The avian-garden character of Duchess’s work influenced the art world by encouraging the critical question of what constitutes art. The influence of Duchess’s ideas an practice have been imprinted in many of the works of American modernist Andy Warhol. Whorl’s Campbell Soup Cans (1962) and Marilyn 1962 build on Duchess’s concept of the redeemed and have inspired a genre of artworks that employ the techniques of reclassification and appropriation. As a leading artist of the sass’s Pop Art movement, Warhol was revolutionary in his appropriation of popular culture. Whorl’s work explored the processes of silk screening, and for the first time was using assistants to produce artworks. The process of silk screening enabled Warhol to investigate mass- production techniques, which is evidenced in his work through his use of repetition, cropping, overprinting and the use of the grid. Warhol used a â€Å"ready made† image of Marilyn Monroe from a commercial publicity shot, and then altered this appropriated image. Warhol plays with reclassification in a similar fashion to Decamp. Warhol takes this idea further than simply rejecting past values by persuading the audience to question the relationship between culture and the media, and to define the sass’s perception of celebrity. Whorl’s artworks mimic the processes and subject matter of mass production. This artwork signals a loss of individuality for Marilyn Monroe: she is a multiple and she is banal, yet Marilyn is symbolically a most potent American icon. Whorl’s artworks, particularly portraits, are a social chronicle of the time. Whorl’s work titled Campbell Soup Cans(1962) also stems from the concept of appropriation and the redefining of context. ‘Campbell Soup Cans’ appropriates images from popular American culture, exploring the idea of combining art and centralization. Warhol has used polymer paint and silkscreen ink on plywood to replicate the once mass-produced sales product. In making this decision, Warhol has consciously blurred the line between art and consumerism. This particular concept had a profound impact on the art world due to its disputed classification as art – categorized by some as ‘merchandise’. The similarities between the thought processes of Marcel Decamp and Andy Warhol how a distinct exchange in artistic ideas, resulting in profound works which question the established standards of the art world. In exploring the evolution of these artists and their ideas, the profound impact and importance of artistic exchange becomes clear. Artworks by Pablo Picasso show a clear breach of artistic boundaries to form new ideas. One of the most important roles in the development of modern art was Cubism. The origins of cubism started off with one of the biggest paintings that he had ever done and featured five women, each whose head looked as if it was on backwards. The painting was named Less Demolishes Davidson (1907). The five women portrayed were very ugly and distorted; causing controversy with the audience because they believed that it should have been depicted realistically and professionally, rather than â€Å"creating a mockery to art itself†. Picasso had broken all â€Å"the rules† while creating this painting, but his main goal was to paint the women from more than one angle at a time, hoping that the audience saw more than what meets the eye. This work was heavily criticized by the art world but Picasso broke away from convention, for what he believed was art. What made Picasso different from other artists of his time was that his art reflected his emotions in his personal life and the outside world. He was not afraid to push the boundaries reflecting on contentious and controversial issues such as war and peace. One of the issues that he painted from the Spanish civil war depicts a military revolt against the Republican government of Spain; which had polarize Spanish life and politics over previous decades. In April 1937, Germans who sided with the current dictator of Spain at the time, General Francisco Franco, bombed the town of Queering in northeast Spain, not far from where Picasso grew up. More than sixteen hundred people were killed and almost nine hundred more were injured. Outraged by the murder of all these innocent people, Picasso created his famous, Queering (1937), in blue, black, and white oil tones. The painting portrayed the suffering of people, animals, and buildings and the chaos. It showed a screaming horse, a fallen soldier, and a screaming woman on fire falling from a burning house and a mother holding a dead baby. According to Picasso, it was not up to the painter to define the symbols; otherwise, he would have Just written it in words. Queering overall represented the brutality of war in general. It’s significant because people actually had to think about the image that they saw, and each perceived it in a different way. Picasso style of painting led people to look deep into the meanings of art rather than Just a superficial aesthetics. The audience were able to relate to Picasso tormented scene. Artistic exchange is a phenomenal act that allows ideas ad techniques to be shared between the art world and the audience. By comparing Marcel Decamp, Andy Warhol and the work of Pablo Picasso one can see how a visionary can affect the art oral. The many accomplishments of these artists not only impacted on the history of their time but the future of how the world saw art. They were involved in different movements in the art world which created a certain vitality for the artistic exchange of ideas and influences. The interchange of ideas and influences greatly affected Picasso , Decamp and Warhol , their artwork and their audiences. Artists shared artistic language allows them to build upon past concepts to produce innovative qualities which resonate through exchanges to greatly influence future generations of artists. How to cite Marcel Duchamp Pablo Picasso and Andy Warhole, Papers

Financial Accounting Management Business Operations

Question: Discuss about the Financial Accounting for Management Business Operations. Answer: 1: A. Acquisition Analysis and Consolidation Journal Entries Acquisition Analysis for the year ending 30 June, 2016. Amount $ Fair value of Net assets acquired Total Assets Acquired 627,000.00 Less: Total Liabilities (221,300.00) Net Assets 405,700.00 Purchase Consideration 356,000.00 Capital Reserve (Net Assets- Purchase consideration) 49,700.00 Table 1: Acquisition analysis (Source: Created by author) Joan Ltd had acquired 100% shares of Jewel Ltd in the financial year 2011 against the purchase consideration $356,000. As the companys acquired net asset was more than the consideration, the difference is considered as a capital reserve on consolidation. Since then the management of has analyzed consistent rise in the retained earnings of the group company. Liabilities and other dues on long term loan were also consistent in the past five years. Apart from these, the products of Jewel Ltd providing a good share in the current market and by acquiring it to further 100%, management is of the view that it would lead to the growth of the business as a whole. Upon examining the product line, business operations, organizational members structure of both the companies, it has been concluded that there is compatibility in the operating functions and the acquisition would not lead to incur high expenses whether in relation to arrangement needs or sale of labor. Further, it was agreed between the companies that the holding company Joan Ltd would be abide Corporation Law and principles of accounting standards to recognize the consolidated financial statements (Yang et al. 2015). Accordingly, any intercompany sales and accounts balance would be settled as per the accounting standard on consolidation of IFRS. Journal Entries For the year ended 30 June 2016 For the group Joan Ltd and Jewel Ltd Amount $ Particulars Debit Credit 1 Jewel Ltd Dr 42,000.00 To Sale of Inventory 42,000.00 (Being inventory sold by Joan Ltd to Jewel Ltd during the year 30 June 2016) 2 Joan Ltd Dr 65,000.00 To Sale of Inventory 65,000.00 (Being inventory sold by Jewel Ltd to Joan Ltd during the year 30 June 2016) 3 Unrealized Profit Dr 13,000.00 To Inventory 13,000.00 (Being Inventory produced by Jewel Ltd at $20,000 that was sold to Joan Ltd $33,000) 4 Unrealized profit Dr 2,000.00 To Inventory 2,000.00 (Being Inventory produced by Joan Ltd at $5,000 that was sold to Jewel Ltd $7,000) 5 Bank A/c Dr 20,000.00 To Inventory 20,000.00 (Being inventory sold by the Joan and Jewel group to the external parties cost of which was $15,000) 6 Inventory A/c Dr 5,000.00 To Profit on sale on inventory 5,000.00 (Being profit incurred on sale on inventory assuming the sales had taken place at the recorded value) 7 Unrealized profit Dr 36,000.00 To Plant and machinery 36,000.00 (Being an item of plant sold to Joan Ltd By Jewel Ltd in the beginning of the year at $116,000 whereas the carrying cost was $80,000) 8 Joan Ltd Dr 26,500.00 To Bank A/c 26,500.00 (Being management fees paid by Jewel Ltd to Joan Ltd during the year 30 June 2016) 9 Full Goodwill method Goodwill A/c Dr 0.00 Asset A/c Dr 627,000.00 To Liabilities A/c 221,300.00 To Non- controlling interest 0.00 To Capital Reserve 49,700.00 (Being capital reserve determined and recognized as Full Goodwill Method) Table 2: Journal Entries (Source: Created by author) Note 1: Since the acquisition of shares by Joan Ltd was on 1st July 2016 therefore it is assumed that the acquisition journal entries have already been made in the financial year 2011- 2012. Note 2: As the acquisition is of 100% between Joan Ltd and Jack Ltd, hence minority interest or non- controlling interest would not arise. Note 3: The determination of goodwill or capital reserve will be same in both the Full Goodwill Method and Partial Goodwill Method because the acquisition is of 100% and there is no minority interest exists. B. Consolidation Worksheet Financial Statement (Extract) Particulars Joan Jewel Combine Elimination Current assets Accounts receivable 55,400.00 84,500.00 139,900.00 Inventory 105,000.00 38,000.00 143,000.00 (143,000.00) Non-current assets Land and buildings 278,000.00 326,000.00 604,000.00 Plant - at cost 299,850.00 355,800.00 655,650.00 (135,000.00) Less: Accumulated depreciation (85,750.00) (138,800.00) (224,550.00) 55,000.00 Investment in Jewel Ltd 356,000.00 - 0.00 Equity Retained earnings 358,000.00 244,200.00 602,200.00 Share capital 350,000.00 - 350,000.00 Current liabilities Accounts payable 81,700.00 76,300.00 158,000.00 Tax payable 66,300.00 25,000.00 91,300.00 Non-current liabilities Loans 152,500.00 120,000.00 272,500.00 Table 3: Financial position combination (Source: Created by author) Appropriation of Profit Particulars Capital Profit $ Revenue Profit $ Balance as on 1 .07.2011 xxx 80,000.00 Less: Unrealized Profit - 51,000.00 Add: Unrealized Loss - - Total 29,000.00 Holding co. (100%) 29,000.00 Cost of Control Investment 356,000.00 Less: Share capital 200,000.00 (200,000*100%) Less: Pre acquisition Profits - Goodwill 156,000.00 Table 4: Consolidation workings (Source: Created by author) 2: A. Relationship between Bosco Ltd and Circus Ltd According to International Financial Reporting Standard (IFRS) 10, definition of subsidiary includes a company controlled by another company. Such control can be gained if the holding of shares or voting rights is more than 50%. The parent company will have the power to control and govern the financial and operational part of the subsidiary for better business decision. On the contrary, associate is defined in International Accounting Standard (IAS) 28 as the significant influence of the investor over an associate company (Exner et al. 2015). It means that the investor has the right to participate in the business and financial decision but cannot control the policies and regulations. Such significant influence is gained by purchasing shares or voting rights for more than 20% but less than 50%. In the given case, Bosco acquired 80% of the issued securities of Circus Ltd on 1 July 2014. Considering the principles of IFRS and IAS the relationship between Bosco and Circus Ltd is that of parent- subsidiary because the acquired voting right by Bosco is more than 50%. It is not necessary to acquire 100% securities for having parents- subsidiary relationship as acquisition of 100% securities would mean wholly owned subsidiary of the acquirers. B. Acquisition Analysis and Consolidation Journal Entries Acquisition Analysis for the year ending 30 June, 2016. Amount $ Fair value of Net assets acquired Total Assets Acquired 1,400,000.00 Less: Total Liabilities 223,000.00 Net Assets 1,177,000.00 Purchase Consideration (80%) 890,000.00 Capital Reserve (Net Assets- Purchase consideration) 287,000.00 Table 5: Acquisition analysis (Source: Created by author) Bosco Ltd acquired 80% of the issued securities of Circus Ltd on 1 July 2014 for consideration of $ 890,000. On acquisition the company gained capital reserve because the value of net asset is more than the purchase consideration. It was observed that the Circus Ltd had good market share and acquiring the company by Bosco Ltd would provide a positive impact on the growth and sustainability for the group company. Observing the acquisition price it was noted that the stocks of Circus Ltd indicates true and fair price and there was no inflation been added to the stocks or assets of the company. all the events between the companies post consolidation was agreed to be taken under mutual consent and the companies agreed to abide by the regulations of Corporation Law and Accounting Standards. Journal Entries For the year ended 30 June 2016 For the group Bosco Ltd and Circus Ltd Amount $ Particulars Debit Credit 1 Circus Ltd Dr 43,000.00 To Sale of Inventory 43,000.00 (Being inventory sold by Bosco Ltd to Circus Ltd during the year 30 June 2016) 2 Bosco Ltd Dr 120,000.00 To Sale of Inventory 120,000.00 (Being inventory sold by Circus Ltd to Bosco Ltd during the year 30 June 2016) 3 Unrealized profit Dr 14,000.00 To Inventory 14,000.00 (Being Inventory produced by Circus Ltd at $70,000 that was sold to Bosco Ltd $84,000) 4 Goodwill impairment loss Dr 5,000.00 To Investment in Circus Ltd 5,000.00 (Being impairment on acquired goodwill recognized by the group on consolidation) 5 Unrealized profit Dr 88,000.00 To Plant and machinery 88,000.00 (Being an item of plant sold to Circus Ltd By Bosco Ltd in the beginning of the year at $190,000 whereas the carrying cost was $102,000) 6 Circus Ltd Dr 300,000.00 To Bank A/c 300,000.00 (Being loan provided to Circus Ltd by Bosco Ltd during the year 30 June 2016) Bank A/c Dr 9,000.00 To Interest on loan 9,000.00 (Being interest on loan received from Circus Ltd for the year 30 June 2016) 7 Partial goodwill method Goodwill A/c Dr 0.00 Asset A/c Dr 1,400,000.00 To Liabilities A/c 223,000.00 To Non- controlling interest 400,000.00 To purchase consideration 890,000.00 To Bargain purchase (113,000.00) (Being bargain purchase determined and recognized as Full Goodwill Method) 8 Income to non- controlling interest Dr 164,600.00 To Non- controlling interest 164,600.00 (Being profit on minority shareholding on consolidation recognized in the books of group company) Table 6: Journal Entries (Source: Created by author) Consolidation Worksheet Appropriation of Profit Particulars Capital Profit $ Revenue Profit $ Balance as on 1 .07.2014 xxx 425,000.00 Less: Unrealized Profit - 102,000.00 Add: Unrealized Loss - - Total 323,000.00 Holding co. (80%) 258,400.00 Non- controlling interest (20%) 64,600.00 Cost of Control Investment 890,000.00 Less: Share capital 400,000.00 (500,000*80%) Less: Pre acquisition Profits - Goodwill 490,000.00 Minority Interest Share Capital (20%) 100,000.00 Profits of Subsidiary 64,600.00 Total 164,600.00 Table 7: Working notes (Source: Created by author) C. Acquisition Analysis under Full Goodwill Method Acquisition analysis using full goodwill method For the year ended 30 June 2016 Amount $ Fair value of net identifiable assets of Circus Ltd 1,177,000.00 (1,400,000- 223,000) Less: Fair value of non- controlling interest 200,000.00 Net asset acquired 977,000.00 Less: Purchase consideration 890,000.00 Bargain purchase/ (Goodwill) 87,000.00 Table 8: Acquisition analysis (Source: Created by author) 3: Acquisition Analysis Cricket Ltd invested in 40% of the issued share capital of Charlie Ltd for an amount of $160,000. Since the acquisition is of 40%, Cricket Ltd gained significance influence over Charlie Ltd and is required to recognize the financial information by following equity method of AASB 128. It has been observed that the investee company, Charlie Ltd had retained earnings of $95,000 which increased to $257,000 in the year 2016 post investment. Apart from that, the investee company also has good market share as well as better investment opportunity for wealth maximization (Yang et al. 2015). Acquisition Analysis Amount $ Investment 160,000.00 Cricket's share on income after tax and before dividend payment of Charlie Ltd ($2791,000 * 40%) 1,116,400.00 Cricket's share on dividend payment by Charlie Ltd ($200,000 * 40%) 80,000.00 Table 9: Acquisition analysis (Source: Created by author) Journal entries for accounting Cricket Ltd's investment in Charlie Ltd For the year ended 30 June 2017 Amount $ Debit Credit 1 Investment on 1 July 2015 Investment in Charlie Ltd Dr 160,000.00 To Bank A/c 160,000.00 (Being 40% shares acquired and invested in Charlie Ltd) 2 Income on Investment 30 June 2016 Investment in Charlie Ltd Dr 1,013,600.00 To Income from Equity 1,013,600.00 ($2,534,000 * 40%) (Being share of income @40% has been recognized) 3 Dividend received 80,000.00 Bank A/c Dr 80,000.00 To Investment in Charlie ltd (Being share of dividend received has been recognized during the year) 4 Income on Investment 30 June 2017 Investment in Charlie Ltd Dr 1,036,400.00 To Income from Equity 1,036,400.00 ($2,591,000 * 40%) (Being share of income @40% has been recognized) 5 Tax Expenses Income tax expense Dr 639,000.00 To Bank A/c 24,000.00 To Deferred tax liability 615,000.00 (Being tax expenses at the rate of 30% recognized for dividends received and income on investment during the year) 6 Unrealized profits Investment in Charlie Ltd Dr 2,000.00 To Inventory A/c 2,000.00 (Being profit on sale of inventory costing at $4,000 to Cricket Ltd for $6,000 has been eliminated and recognized) 7 Consolidated income A/c Dr 3,000.00 To Investment in Charlie ltd 3,000.00 (Being unrealized profit on sale of inventory to Charlie Ltd for $12000, costing $9,000 has been cancelled) Table 10: Journal Entries (Source: Created by author) Working Notes: Appropriation of Profit Particulars Capital Profit $ Revenue Profit $ Balance as on 1 .07.2015 xxx 95,000.00 Less: Unrealized Profit - 3,000.00 Add: Unrealized Loss - - Total 92,000.00 Holding co. (40%) 36,800.00 Table 11: Analysis of profit (Source: Created by author) Cost of Control Investment $160,000.00 Less: Share capital $80,000.00 (200,000*40%) Less: Pre acquisition Profits - Goodwill $80,000.00 Table 12: Cost of control (Source: Created by author) Reference List: Exner, A., Bartels, L.E., Windhaber, M., Fritz, S., See, L., Politti, E. and Hochleithner, S., 2015. Constructing landscapes of value: Capitalist investment for the acquisition of marginal or unused landThe case of Tanzania.Land Use Policy,42, pp.652-663. Yang, L., Grossmann, I.E., Mauter, M.S. and Dilmore, R.M., 2015. Investment optimization model for freshwater acquisition and wastewater handling in shale gas production.AIChE Journal,61(6), pp.1770-1782.