TAILIEUCHUNG - Ebook Financial accounting (12th edition): Part 2
(BQ) Part 2 book "Financial accounting" has contents: Fixed assets and intangible assets, current liabilities and payroll , current liabilities and payroll, corporations - organization, stock transactions, and dividends, investments and fair value accounting, statement of cash flows, statement of cash flows,.and other contents. | Find more at CHAPTER 10 © AP Photo/W. A. Harewood Fixed Assets and Intangible Assets Fatburger Inc. D o you remember purchasing your first car? You probably didn’t buy your first car like you would buy a CD. Purchasing a new or used car is expensive. In addition, you would drive (use) the car for the next 3–5 years or longer. As a result, you might spend hours or weeks considering different makes and models, safety ratings, warranties, and operating costs before deciding on the final purchase. Like buying her first car, Lovie Yancey spent a lot of time before deciding to open her first restaurant. In 1952, she created the biggest, juiciest hamburger that anyone had ever seen. She called it a Fatburger. The restaurant initially started as a 24-hour operation to cater to the schedules of professional musicians. As a fan of popular music and its performers, Yancey played rhythm and blues, jazz, and blues recordings for her customers. Fatburger’s popularity with entertainers was illustrated when its name was used in a 1992 rap by Ice Cube. “Two in the mornin’ got the Fatburger,” Cube said, in “It Was a Good Day,” a track on his Predator album. The demand for this incredible burger was such that, in 1980, Ms. Yancey decided to offer Fatburger franchise opportunities. In 1990, with the goal of expanding Fatburger throughout the world, Fatburger Inc. purchased the business from Ms. Yancey. Today, Fatburger has grown to a multi-restaurant chain with owners and investors such as talk show host Montel Williams, former Cincinnati Bengals’ tackle Willie Anderson, comedian David Spade, and musicians Cher, Janet Jackson, and Pharrell. So, how much would it cost you to open a Fatburger restaurant? On average, the total investment begins at over $700,000 per restaurant. Thus, in starting a Fatburger restaurant, you would be making a significant investment that would affect your life for years to come. This chapter discusses the accounting for .
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