What was the accumulated depreciation for 360 Painting as of December 31, 2022?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2023 | 2022 | |||
|---|---|---|---|---|
| Notes receivable | $ | 14,547 | $ | 24,990 |
| Prepaid expenses | 1,324,609 | 1,514,830 | ||
| Prepaid commissions | 985,918 | 751,616 | ||
| Other current assets | 161,344 | 160,533 | ||
| Total prepaid expenses and other current assets | $ | 2,486,419 | $ | 2,451,969 |
**5. Property and Equipmen
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document does not explicitly state the accumulated depreciation for 360 Painting as of December 31, 2022. However, it does provide the depreciation and amortization expense recognized in the consolidated statement of operations.
According to the 2025 FDD, the depreciation and amortization expense related to property and equipment was $152,162 for the year ended December 2022. This figure represents the expense recognized during that specific year, not the total accumulated depreciation from previous years.
To determine the accumulated depreciation, a prospective 360 Painting franchisee should review the complete financial statements, which may be included as exhibits to the FDD, or request this information directly from the franchisor. Understanding the accumulated depreciation can provide insights into the overall financial health and asset management of Premium Service Brands, LLC.