What was the amount of All County's accounts payable as of December 31, 2022?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
ults of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America
Joe Teston CPA Advisors St. Petersburg, Florida January 28, 2025
Joe Teston CPA Advisors
Balance Sheets
at December 31, 2024, 2023, & 2022
| Year 2024 | Year 2023 | Year 2022 | |
|---|---|---|---|
| ASSETS | |||
| CURRENT ASSETS: | |||
| Cash and Cash Equivalents | $ 372,503 | $ 80,928 | $ 66,131 |
| Commissions Receivable, net | (3,198) | 45,404 | 95,321 |
| Due from Shareholder | - | - | |
| Notes Due from Franchisees | - | - | |
| Total Current Assets | 369,305 | 126,332 | 161,452 |
| PROPERTY & EQUIPMENT: | |||
| Furniture, Fixtures & Equipment (net of | |||
| accumulated depreciation) | 54,245 | 44,207 | 26,025 |
| OTHER ASSETS: | |||
| National Ad Fund Account | 47,310 | 24,642 | 48,667 |
| TOTAL ASSETS | 470,860 | 195,181 | 236,144 |
| LIABILITIES AND MEMBERS' EQUITY | |||
| LIABILITIES | |||
| Current Liabilities | |||
| Accounts Payable | 84,174 | 161,791 | 46,337 |
| Note Payable to Stockholders - Current | - | 1,698 | 1,698 |
| Deferred Revenue | - | - | - |
| Total Current Liabilities | 84,174 | 163,489 | 48,035 |
| Long-Term Liabilities | |||
| Note Payable | 49,227 | - | - |
| Total Long-Term Liabilities | 49,227 | - | - |
| TOTAL LIABILITIES | 133,401 | 163,489 | 48,035 |
| STOCKHOLDERS' EQUITY (DEFICIT): | |||
| Common Stock, $1 par value | 200 | 200 | 200 |
| (1000 shares authorized / 200 issued & outstanding |
Source: Item 22 — Contracts (FDD page 43)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, the accounts payable as of December 31, 2022, was $46,337. This figure represents the amount All County owed to its suppliers and other creditors at that specific point in time. Accounts payable is a current liability, meaning these debts are typically due within a year.
For a prospective All County franchisee, understanding the franchisor's accounts payable can provide insights into its short-term financial obligations and overall financial health. A high accounts payable balance relative to its assets could indicate potential cash flow challenges, while a lower balance might suggest better financial management.
It's important to note that accounts payable is just one aspect of All County's financial picture. A prospective franchisee should review the complete financial statements, including the balance sheets, income statements, and cash flow statements, along with the accompanying notes, to gain a comprehensive understanding of the franchisor's financial condition. Analyzing these statements over several years, as presented in the FDD, can reveal trends and provide a more informed assessment of the financial stability of All County.