What was the total amount of 360 Painting's other assets in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
tinue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Charlottesville, Virginia
April 8, 2024
| 2023 | 2022 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 722,074 | $ 900,157 |
| $ | ||
| Accounts receivable, net | 2,838,106 | 2,173,026 |
| Prepaid expenses and other current assets | 2,4 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the company's other assets totaled $7,097,279 in 2023. This figure is part of the company's overall assets, which totaled $35,499,749 for the same year.
When evaluating a franchise, a prospective franchisee should consider the composition and trends of assets. An increase in other assets could signify various factors, such as new investments, changes in accounting practices, or the acquisition of other intangible resources.
It is important to note that the FDD also lists the value of "other assets" for 2024, which was $7,888,574. Comparing these figures year-over-year can provide insight into the financial trajectory of 360 Painting. A potential franchisee should seek clarification from 360 Painting regarding the specific items included in "other assets" to fully understand their nature and potential impact.