Great Gatsby Fitzgeralds Criticism Of The American Dream...

Great Gatsby: Fitzgeralds Criticism of The American Dream The American Dream, as it arose in the Colonial period and developed in the nineteenth century, was based on the assumption that each person, no matter what his origins, could succeed in life on the sole basis of his or her own skill and effort. The dream was embodied in the ideal of the self-made man, just as it was embodied in Fitzgeralds own family by his grandfather, P. F. McQuillan. Fitzgeralds novel takes its place among other novels whose insights into the nature of the American dream have not affected the artistic form of the novel itself. The Great Gatsby serves as Fitzgeralds critique of the American dream. nbsp;nbsp;nbsp;nbsp;nbsp;The Great Gatsby embodies a†¦show more content†¦nbsp;nbsp;nbsp;nbsp;nbsp;Fitzgeralds critique of the American dream is developed through certain dominant images and symbols. Fitzgerald uses the green light as a symbol of hope, money, and jealousy. Hope signifies the center of the dream, but jealousy and lure of money pollute it. Gatsby is a noble man whose vision is fouled by his dream because he remains in a quot;wonderquot; at Daisys presence throughout the novel. He is unable to see the carelessness and self-centeredness of Daisy whose quot;foul dustquot; destroys him. Fitzgerald also uses the contrasting images of the East and Midwest to develop his critique. The East denotes the place where the corruption of the American dream has occurred. Finally, at the end of the novel, Nick decides to move back West. Nick learns that this place of dishonesty, lack or morale, and lack of values is not the place for him. nbsp;nbsp;nbsp;nbsp;nbsp;In the novel, The Great Gatsby, Scott F. Fitzgerald gives some severest criticism of the American dream ever written. That dream has been destroyed and polluted by the pursuit of material success. Fitzgerald is successfully able to identify the deficiencies of the American vision itself. Fitzgerald shows that the secret of life happiness is toShow MoreRelatedThree Symbols in the Great Gatsby1429 Words   |  6 PagesSymbols in the Great Gatsby Fitzgerald wrote â€Å"The Great Gatsby† to criticise America from straying from the â€Å"American Dream†. Typically the American society tries to follow the American Dream, which is a dream of a society that allows everyone, no matter what economic class they were born into, to be able to accomplish whatever they want with hard work. With this principle no matter their social class Americans should be able to accomplish anything. Fitzgerald thought that the American society wasn’tRead MoreDepicting the Unattainable American Dream in The Great Gatsby by F. Scott Fitzgerald1740 Words   |  7 Pages The Great Gatsby, a novel written by F. Scott Fitzgerald, depicts that the American Dream is unattainable. The novel portrays the ignorance of society after the war. The Great Gatsby was published in 1925 after World War I had ended. Americans, at the time, lived in an illusion to try to forget about the war, thus, the American Dream was very appealing to America ns. The American Dream set an illusion that allowed Americans to believe that one could change the past and â€Å"re-do† the mistakes all overRead MoreHumanities Through the Arts: Artistic Criticism Essay examples1063 Words   |  5 Pageson self-indulgence and happiness like never before. The Great Gatsby, written by F. Scott Fitzgerald, is the ideal portrayal of this time era. In a time shortly after war, this novel captures the audience, forcing them to participate in the setting and with the characters. Jay Gatsby, the focal point of this novel, is used as a representation of this era in American history and as an example of the pursuit of the American Dream. Fitzgerald uses vivid diction that captivates the reader and his symbolismRead MoreEssay on The Great Gatsby1404 Words   |  6 Pagesprosperous decade of the 1920’s, traditional American lifestyles and principles were interjected by the new superficial and materialistic beliefs closely associated with â€Å"The Roaring Twenties.† Undoubtedly, the 1920’s were a decade of change. Deteriorating moralities and optimistic beliefs of overnight wealth replaced strict traditional views on religion, family structure, and work ethics. In an era of such high optimism, the pioneering spirit of the American Dream was revitalized. The nouveaux richesRead MoreThe Great Gatsby as a Criticism of American Society1538 Words   |  7 PagesThe Great Gatsby as a Criticism of American Society In the novel The Great Gatsby, author F. Scott Fitzgerald criticizes American society through the eyes of his narrator Nick Caraway, as he watches the downfall and pathetic lives of what most consider achievers of the American Dream. Fitzgerald’s criticism of American Society is more prominently proven by his Harsh view of America’s materialistic standard of living, the tragic death of Gatsby, the negligence displayed by Gatsby’s friendsRead MoreThe Great Gatsby By F. Scott Fitzgerald1472 Words   |  6 Pagesnoble to suffer. In The Great Gatsby, F. Scott Fitzgerald comments on this concept with the characters Tom and Gatsby. By comparing and contrasting Tom and Gatsby in The Great Gatsby, Fitzgerald develops his critique of the class structure of 1920s America that allows corrupt characters to thrive while punishing sympathetic characters for striving for their dreams. Fitzgerald contrasts Tom’s and Gatsby’s old and new money statuses to display the corruption of the American Dream that sustains society’sRead MoreEssay about Corruption of the American Dream1127 Words   |  5 PagesCorruption of the American Dream The Great Gatsby is a novel based off of the American dream, which is something that everyone strives for. The author of the book F. Scott Fitzgerald has his own American dream to become a well known writer, and to have the girl of his dreams, and throughout the novel this dream reflected in The Great Gatsby within in the characters Gatsby and Daisy. Fitzgerald had developed the character Gatsby by incorporating some of his own dreams. For example Gatsby has a forbiddenRead More Criticism of Capitalism in The Great Gatsby by Fitzgerald Essay1520 Words   |  7 PagesCriticism of Capitalism in The Great Gatsby by Fitzgerald      Ã‚  Ã‚   In The Great Gatsby, Fitzgerald creates an artificial world where money is the object of everyones desire.   The characters, the setting, and the plot are very deeply submerged in a Capitalism that ends up destroying many of them.   Fitzgeralds criticism of Capitalism can be seen as a move to subtly promote Socialism, an ideology in which value is placed on the inherent value of an object rather than its market value.   InRead MoreMarxist Criticism Of The Great Gatsby1588 Words   |  7 Pages Haga American Literature 14 April 2015 Marxist Criticism of The Great Gatsby Society has evolved to the point where money is the biggest factor in our lives. People spend an incredible amount of time at their workplace for that miniscule pay raise. Money also plays a role in our relationships with the people around us, seen in the fact that people of similar economic status tend to congregate. This desire to gain more money causes conflict, mainly between people who have a great deal of money, andRead MoreThe Great Gatsby By F. Scott Fitzgerald893 Words   |  4 Pages Scott Fitzgerald’s The Great Gatsby tells the story of a nouveau-riche man chasing his dream in the midst of the prohibition. The story is told from the perspective of the narrator, Nick Carraway. Nick recounts the summer he spent with Gatsby as Gatsby tries to attain the American Dream, which he has personified in his past love, Daisy Buchanan. Fitzgerald presents two contrasting responses to the American Dream through his characterization of Nick as cynical and Gatsby as hopeful. Nick’s cynical

Analysis of a Sixty Second Sequence of I Robot Essay

Analysis of a Sixty Second Sequence of I Robot Throughout this essay I will be analysing a sixty second sequence of the film I-Robot. Directed by Alex Proyas, the film was released in 2004 and was a hit at the box office. The film is an action-thriller inspired by Isaac Asimov’s classic short story collection. Asimov’s books set forth the three laws of robotics. Law 1. A Robot may not injure a human being or, through inaction, allow a human being to come to harm. Law 2. A Robot must obey orders given it by human beings except where such orders would conflict with first law. Law 3. A Robot must protect its own existence as long as such protection does not conflict with the first or second law. Although the film does not follow†¦show more content†¦I have decided to analyse the scene when Spooner has caught Sonny after his escape from the murder scene. He is taken to police headquarters and although the lieutenant is hesitant about the idea, he lets Spooner interrogate him. I have decided to use this scene because I believe it helps the viewer see how Spooner’s prejudice of Robots will diminish through his interactions with Sonny. Sonny’s child-like inquisitiveness stops him in his tracks. This pattern of Spooner questioning Sonny’s humanity and Sonny replying to these questions in a very human way is repeated throughout the film. There are also what seem to be small events in this scene that turn out to be significant later on in the film. â€Å"My favourite scene is Sonny and I in the interrogation room. I love its humanity. His direction to me was that I was a racist sheriff whod just captured the person I am most racist against.† (Will Smith 2004) The seen is set in a police interrogation room. It is typical of any other police interrogation room seen in many other films. There is a table placed in the middle of the room with Sonny sat at one end. The room is dimly lit except for the table where there is a large light shinning down on it. Apart from another chair there are no other objects. Also in the there are six armed guards, pointing there weapons at Sonny. The film is set in the future, so in order to makeShow MoreRelatedIntroduction Of Natural Language Processing3416 Words   |  14 Pagescould not sort out. Hence it is fair that â€Å"Human Languages grant aberration that natural language cannot grant.† In a larger view; Natural Language Processing includes signal processing or speech recognition, context reference issues and semantic analysis and processing. Typical applications for Natural Language Processing include the following: a) A good human computer interface that can translate from a natural language into a computer language and vice versa. A natural language system can act asRead More PARADISE FLUBBED: Pynchon the New World Essay4618 Words   |  19 Pagesback to a time a little less rabidly conformist, to: . . . the Mellow Sixties, a slower-moving time, predigital, not yet so cut into pieces, not even by television . . . War in Vietnam, murder as an instrument of American politics, black neighborhoods torched to ashes and death, all must have been off on some other planet.And so return to the College of Surf, a campus near San Clemente where the budding radicalism of the Sixties curiously coexists with the proto-fascism of the Seventies; a microcosmRead MoreGarbage In Garbage Out4135 Words   |  17 Pagesthis study can be stated as; does the computer effectively assist in the banking sector? 1:3 OBJECTIVE OF THE STUDY In this perspective the objective of this study is to know the merit of introduction of computer services into banking industries. i. Computer take a lesser time in dealing with laid down projects, assignment and acquisition. ii. It is much reliable and also save time. iii. It also provides easy accessing of already completes project. iv. It also provide easy access of informationRead MoreThis Tournament Goes to Eleven4982 Words   |  20 PagesTenerife before *) 3. A 2003 Timothy Pennings paper asked Do Dogs Know this. The Umbral type is the study of Shaffer sequences, while Mallivin is an infinite-dimensional one on the Wiener space and is also called the stochastic one of variations. Church and Kleene developed a formal logic known as the lambda one. In old literature it was known as infinitesimal analysis, due to the presence of quantities getting very small. For 10 points, Gottfried Wilhelm Leibniz and Sir Isaac Newton independentlyRead MoreThe Role of Computer in Banking Industries4976 Words   |  20 PagesADM NO: 10209 SUBMITTED TO DEPARTMENT OF COMPUTER SCIENCE, ZAMFARA COLLEGE OF ART AND SCIENCE (ZACAS) GUSAU, ZAMFARA STATE. IN PARTIAL FULFILLMENT FOR THE REQUIMENNT OF THE AWARD OF PROFESSIONAL DIPLOMA C ERTIFICATE IN COMPUTER SCIENCE March, 2009. I APPROVAL PAGE This research work has been read, accepted and approved after meeting the requirement for the partial fulfillment for the award of Diploma Certificate in the Department of math’s/ computer Science, Zamfara College of Art and Science (Zacas)Read MoreEffectiveness of Pccr Review Center19276 Words   |  78 Pagesthe Father of all, for the strength that keep the researchers standing and for the hope that keep them believing that this affiliation would be possible and more interesting. TABLE OF CONTENTS Page TITLE PAGE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.i APPROVAL SHEET†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ii ACKNOWLEDGEMENT†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ iii DEDICATION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦iv TABLEOF CONTENTS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...v LIST OF TABLES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦viii LIST OF FIGURES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreSolutions Manual Discrete-Event System Simulation Third Edition Jerry Banks John S. 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Wilson and Colin Gilligan. All rights reserved The right of Richard M.S. Wilson and Colin Gilligan to be identified as the authors of this

Compare and Contrast the Different Perspective on the Self Free Essays

Compare and contrast the different perspective on the self in Kaphagawani’s article â€Å"African conceptions of a person’. Reflect on some of the challenges. Table of Content Table of Content1 Introduction2 Nature2 Principle of life2 Personhood3 Human being3 Conclusion3 References4 Introduction In this essay I will compare and contrast the different perspectives of self, person and personhood from various cultures across Africa, answering the age-old questions within metaphysics as well as philosophy: â€Å"What is a person? ; What elements constitute being a person? ; and â€Å"Could one be a person without personhood? † Nature The Akan philosophers Wiredu and Gyekye agree the okra (soul) is the innermost self of the person, but disagree whether the nature of the okra is a material or immaterial substance. We will write a custom essay sample on Compare and Contrast the Different Perspective on the Self or any similar topic only for you Order Now Wiredu insist the okra is different from the Western philosophy’s perceived soul, because to the West the term soul refers to â€Å"a purely immaterial entity that somehow inhabits the body. The okra, by contrast, is quasi-physical. † (1) The okra for Gyekye has the same concept of a soul as in other metaphysical systems and proclaims that â€Å"a crucial aspect of Akan metaphysics is the existence of the world of spirits† (2a). Gyekye insists â€Å"the okra and sunsum are immaterial substances and they survive death as a â€Å"spiritual unity†(2b) where Wiredu suggests sunsum is not an entity but a manner of being, which perishes at death. Principle of life The sunsum as the â€Å"activating principle† and okra as the â€Å"principle of life† is unclear. The Yoruba’s ori, like the okra, is the determinant of personality, where the emi is the active principal of life. The Akan’s perception of okra is regarded as the active life principle supplied by the deity, as well as the bearer of destiny, where the Yoruba’s emi, which is the equivalent of okra, is not the bearer of destiny. Personhood The words of John F. Kennedy, â€Å"Ask not what your country can do for you, ask what you can do for your country† (3) sums up the road to personhood. Mbiti (4) argues that â€Å"in traditional life, the individual does not and cannot exist alone except corporately†¦. He is simply part of the whole†, and describes a social-centric view of personhood in which society creates the individual. Tempels agrees that â€Å"this concept of separate beings, of substance†¦ hich find themselves side by side, entirely independent one of another, is foreign to Bantu thought. † (5) Human being Kagame claims that humans beings are complete animals â€Å"from the moment he exist in his mother’s womb†, â€Å"when a name has been given† or â€Å" from the moment he puts reason to good use† (6) but for Wiredu everyone is born a person. However personhood is something you may achieve making some more person than others on fulfilment of oneâ€⠄¢s obligations to self, household and to community. 7) For Geykye â€Å"a human person is a being who has a moral sense and is capable of making moral judgements† (8a) and does not agree with the personhood debate because â€Å"what the individual would be striving for in all his/her exertions is some social status, not personhood. † (8b) Conclusion After colonialism Africa provided descriptions on what a person is in the African context but the authentic descriptions were lost in order to compensate for Aristotle’s â€Å"man is a rational animal†. It unified African educated philosophers and created a second tier by adding the word â€Å"hood† to â€Å"person†. The English language creates translation issues because it is unable to effectively define African concepts as passed down amongst generations. The words of John F. Kennedy’s inauguration speech stress the essence of African culture as it emphasises the role which the community plays in order for a person to be able to define him-/herself. References (1) Kwasi Wiredu The concept of mind with particular reference to the language and thought of the Akan Contemporary Philosophy: A new survey. Vol 5: African Philosophy, ed G. Floistad (Dordrecht: Nijhoff, 1987) pg. 161 (2a) Kwame Gyekye Concept of a person An essay on African philosophical thought, revise,d edition, ed Kwane Gyekye (Temple university press, Philadelphia, 1995) pg. 86,87 (2b) Kwame Gyekye Concept of a person An essay on African philosophical thought, revise,d edition, ed Kwane Gyekye (Temple university press, Philadelphia, 1995) pg. 98 (3) John F. Kennedy This speech was delivered by John F Kennedy at his inauguration in Washington on January 20 1961. (4) John S. Mbiti Ethnic Groups, Kinship ; the Individual African Religions and Philosophy, 2nd edition, ed. John S Mbiti (Oxford: Heineman, 1989), pg. 106. (5) Father Placide Temples Bantu Philosophy â€Å"La Philosophie Bantoue†, ed. Dr. A. Rubbens (Elizabethville: Lovania, 1945), pg. 58. (6) Alex Kagame The Shadow Thesis Reading in contemporary African Philosophy, ed Dr P Mungwini, Dr MLJ Koeane, Mr ESN Mkhwanazi (UNISA: Pretoria, 2012) pg. 91 (7) Kwasi Wiredu An Akan perspective on human rights The African Philosophy Reader, Second Edition, ed PH Coetzee and APJ Roux (Routledge: Londen, 2003), pg 315 (8a) Kwame Gyekye Person and community in African thought Reading in contemporary African Philosophy, ed Dr P Mungwini, Dr MLJ Koeane, Mr ESN Mkhwanazi (UNISA: Pretoria, 2012) pg. 29 (8b) Kwame Gyekye Person and community in African thought Reading in contemporary African Philosophy, ed Dr P Mungwini, Dr MLJ Koeane, Mr ESN Mkhwanazi (UNISA: Pretoria, 2012) pg. 30 How to cite Compare and Contrast the Different Perspective on the Self, Essay examples

Corporate Accounting Virtual Finance Accounting

Question: Discuss about the Corporate Accounting for Virtual Finance Accounting. Answer: 1. Harbour Cruises Limited Calculation showing Taxable income Particulars Amount Amount Accounting PBT $ 375,000.00 Add: Long service leave $ 25,000.00 Accrued Warranty expenses $ 25,000.00 Depreciation $ 100,000.00 Total $ 150,000.00 Less: Prepaid insurance paid $ (12,500.00) Depreciation $ (125,000.00) Total $ (137,500.00) Taxable Income $ 387,500.00 Harbour Cruises Limited Calculation of deferred Tax work sheet Particulars Carrying Amount Tax Base Temporary Difference Assets Cash $ 25,000.00 $ 25,000.00 $ - Inventory $ 125,000.00 $ 125,000.00 $ - Account receivable $ 125,000.00 $ 125,000.00 $ - Prepaid Insurance $ 12,500.00 $ - $ 12,500.00 Plant (net Depreciation) $ 400,000.00 $ 375,000.00 $ 25,000.00 Total Assets $ 687,500.00 $ 650,000.00 $ 37,500.00 Liability Accounts Payable $ 100,000.00 $ 100,000.00 $ - Provision for warranty expenses $ 25,000.00 $ - $ 25,000.00 Loan Payable $ 250,000.00 $ 250,000.00 $ - Provision for Long service leave $ 25,000.00 $ - $ 25,000.00 Total Liability $ 400,000.00 $ 350,000.00 $ 50,000.00 Net Assets $ 287,500.00 $ 300,000.00 Temporary Difference $ (12,500.00) Deferred tax Liability $ 11,250.00 Deferred Tax Assets $ (15,000.00) Net Deferred Tax Assets $ (3,750.00) Harbour Cruises Limited Calculation showing Deferred tax Particulars Amount Tax on accounting profit $ 112,500.00 Current tax Liability $ 116,250.00 Net deferred tax Asset $ (3,750.00) 3. Luke Limited Journal Entries for the year ended 30-06-2016 Date Particular Debit Credit Investment Acquisition 01-07-07 Investment in John Ltd $ 712,000.00 Bank $ 712,000.00 30-06-16 Share Capital $ 400,000.00 Retained Earning $ 494,000.00 Goodwill $ 28,400.00 Investment in John Limited $ 712,000.00 non controlling interest $ 210,400.00 Income of Dividend 30-06-16 Dividend Revenue from John $ 148,800.00 Dividend paid $ 148,800.00 Intergroup Transaction 30-06-16 Sales $ 234,000.00 Purchase $ 234,000.00 Elimination of unrealized profit on opening Inventory 30-06-16 Retained Earning $ 14,000.00 Opening stock $ 14,000.00 Income tax on opening Inventory 30-06-16 Income Tax Expenses $ 4,200.00 Opening Retained Earning $ 4,200.00 Elimination of unrealized profit on closing Inventory 30-06-16 Cost of Goods Sold $ 16,000.00 Closing stock $ 16,000.00 Income Tax on closing Inventory 30-06-16 Deferred Tax $ 4,800.00 Income Tax Expenses $ 4,800.00 Amortization of Goodwill 30-06-16 Amortization of Goodwill $ 6,000.00 Retained Earning $ 6,000.00 Effect of Income tax on Amortization 30-06-16 Income Tax Expenses $ 1,800.00 Deferred Tax $ 1,800.00 Sale of Plant 30-06-16 Gain on Sale of Plant $ 25,000.00 Plant $ 182,000.00 Accumulated Depreciation $ 207,000.00 Tax Impact on sale of Plant 30-06-16 Deferred Tax Asset $ 7,500.00 Income Tax Expenses $ 7,500.00 Statement showing calculation of Goodwill Particulars Amount Purchasing cost of Investment $ 712,000.00 Less: Capital Profit $ (272,000.00) Book Value of shares held $ (320,000.00) Goodwill $ 120,000.00 Statement showing Calculation of Non Controlling Interest Particulars Amount Capital Profit $ 68,000.00 Post acquisition profit $ 62,400.00 Share Capital $ 80,000.00 Total Non controlling interest $ 210,400.00 Luke Limited Statement showing calculation of Profit or loss on sale of Plant Particulars Amount Sale of Plant $ 232,000.00 Less Carrying value $ (162,000.00) Depreciation $ (45,000.00) Profit on sale of Plant $ 25,000.00 4. a) The accounting treatments for investments in associates are provided in the AASB 128 Investment in Associates and Joint Venture. This standard applies to the investor companies that are not the majority shareholders but enjoy significant influence over the investee as stated in Para 2 of the standard (Bazley et al. 2013). The significant influence means that the investor company has the power to participate in the financial and operating policy decisions of the investee company but does not have the control over their operations as per Para 3 of the standard. The Para 5 of the standard states that it is presumed that an investor company has significant influence if it holds 20% or more shares of the investee company (Evans et al. 2013). The equity method of accounting is required to be followed by the investor company that has significant influence over the investee company unless there is specific exemption in Para 13 of the standard. The first step is to determine the nature of the entity in order to ascertain the treatment of the equity method that is required to be followed. If the investor company is a parent entity then the investment in the investee company is recorded at cost in the separate financial statement of the investor company (Henderson et al. 2015). In the consolidated financial statement, the investment is recorded following the equity method. If the investment company is not the parent entity then in the separate financial report the investment in the investee company is recorded by following the equity method. The investment that is made by the investor company should be initially recorded at cost as per Para 10 of the standard. In the subsequent years, adjustments are made in the carrying value of the investment amount for the share of profit or loss in the investee company (Xu and Verhoeven 2015). The investor company has share on the profit or loss of the investee company this has an effect on the profit or loss of the investment company . In this case, the forty percent share of Creek limited is held by Rapid limited and other companies hold the remaining sixty percent of shares. The shareholders of the Creek limited has one right to vote for one share held. It can be concluded base on the above analysis that Rapid Limited has significant influence on the Creek Limited. Therefore the initial investment made by the rapid limited should be recorded in cost and the equity method of accounting should be followed for recognizing the investment. The investment made in the associates should be included in the non-current asset and should be accounted using equity method of accounting. The investor company is also required to provide separate disclosure for the profit or loss made in the associates, the share of the investor company on any operation that has been discounted and the carrying value of the investment. b) In the books of Rapid Limited Journal Entries Date Particulars Debit Credit investors share of earnings 30-06-16 Investment in Creek Limited $ 192,000.00 Share of Profit/loss $ 192,000.00 distribution of dividend 30-06-16 Dividend revenue $ 156,000.00 Investment in Creek Limited $ 156,000.00 investors share of earnings 30-06-17 Investment in Creek Limited $ 216,000.00 Share of Profit/loss $ 216,000.00 distribution of dividend 30-06-17 Dividend revenue $ 192,000.00 Investment in Creek Limited $ 192,000.00 Increase in revaluation reserve 30-06-17 Investment in Creek Limited $ 120,000.00 Revaluation Reserve $ 120,000.00 c) In the books of Rapid Limited Journal Entries Date Particulars Debit Credit preliminary Acquisition 01-07-15 Investment in Creek Limited 3250000 Bank 3250000 Earning for Reacquisition 14-07-15 Bank 96000 Investment in Creek Limited 96000 recording investors share of earnings 30-06-16 Investment in Creek Limited $ 192,000.00 Share of Profit/loss $ 192,000.00 recording share of dividend 30-06-16 Dividend receivable $ 156,000.00 Investment in Creek Limited $ 156,000.00 Previous years dividend paid 30-06-17 Bank $ 156,000.00 Dividend receivable $ 156,000.00 recording investors share of Profit 30-06-17 Investment in Creek Limited $ 216,000.00 Share of Profit/loss $ 216,000.00 recording share of dividend 30-06-17 Dividend receivable $ 192,000.00 Investment in Creek Limited $ 192,000.00 Increase in revaluation reserve 30-06-17 Investment in Creek Limited $ 120,000.00 Revaluation Reserve $ 120,000.00 d) In the books of Rapid Limited Journal Entries Date Particulars Debit Credit Initial purchase 30-06-16 Investment in Creek Limited 3250000 Retained Earning 3250000 recording shareholder share of Profit 30-06-17 Investment in Creek Limited $ 216,000.00 Share of Profit/loss $ 216,000.00 recording distribution of dividend 30-06-17 Dividend revenue $ 192,000.00 Investment in Creek Limited $ 192,000.00 Increase in revaluation reserve 30-06-17 Investment in Creek Limited $ 120,000.00 Revaluation Reserve $ 120,000.00 Reference Bazley, M., Hancock, P., Fisher, C., Lovell, A., Berk, J., DeMarzo, P., Berk, J. and DeMarzo, P., 2013.Financial Accounting: An Integrated. Thomson Pty Ltd, South Melbourne. Evans, E.E., Burritt, R. and Guthrie, J., 2013. The Virtual University: Impact on Australian Accounting and Business Education. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015.Issues in financial accounting. Pearson Higher Education AU. Xu, S., How, J. and Verhoeven, P., 2015. Corporate governance and private placement issuance in Australia.Accounting Finance.