tailieunhanh - Ebook Accounting principles (11th edition): Part 2

(BQ) Part 2 book "Accounting principles" has contents: Long-Term liabilities, investments, statement of cash flows, financial statement analysis, managerial accounting, job order costing, budgetary planning, incremental analysis and capital budgeting,.and other contents. | 13 Corporations: Organization and Capital Stock Transactions ✔ Feature Story What’s Cooking? What major . corporation got its start 41 years ago with a waffle iron? Hint: It doesn’t sell food. Another hint: Swoosh. Another hint: “Just do it.” That’s right, Nike. In 1971, Nike co-founder Bill Bowerman put a piece of rubber into a kitchen waffle iron, and the trademark waffle sole was born. It seems fair to say that at Nike, “They don’t make ‘em like they used to.” Nike was co-founded by Bowerman and Phil Knight, a member of Bowerman’s University of Oregon track team. Each began in the shoe business independently during the early 1960s. Bowerman got his start by making hand-crafted running shoes for his University of Oregon track team. Knight, after completing graduate school, started a small business importing low-cost, high-quality shoes from Japan. In 1964, the two joined forces, each contributing $500, and formed Blue Ribbon Sports, a partnership that marketed Japanese shoes. It wasn’t until 1971 that the company began manufacturing its own line of shoes. With the new shoes came a new corporate name–Nike–the Greek goddess of victory. It is hard ✔ to imagine that the company that now boasts a stable full of world-class athletes as promoters at one time had part-time employees selling shoes out of car trunks at track meets. Nike has achieved its success through relentless innovation combined with unbridled promotion. By 1980, Nike was sufficiently established and issued its first stock to the public. That same year, it created a stock ownership program for its employees, allowing them to share in the company’s success. Since then, Nike has enjoyed phenomenal growth, with 2011 sales reaching $ billion and total dividends paid of $569 million. Nike is not alone in its quest for the top of the sport shoe world. Reebok used to be Nike’s arch rival (get it? “arch”), but then Reebok was acquired by the German company adidas. Now adidas pushes Nike every step of the

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