What is the total estimated contract asset balance for Angry Chickz as of December 31, 2024?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
s that we identified during the audit.
Irvine, California
May 6, 2025
Financial Statements
Angry Chickz Franchising, LLC
Balance Sheets December 31, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS Cash Receivables and other current assets Current portion of contract asset | $ 187,344 8,507 1,000 | $ 100,000 - - |
| Total current assets | 196,851 | 100,000 |
| NON-CURRENT ASSETS Contract assets |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Angry Chickz's 2025 Franchise Disclosure Document, the company's balance sheet as of December 31, 2024, includes both current and non-current assets. The current portion of the contract asset is listed at $1,000, while the non-current contract assets amount to $58,250.
Therefore, the total contract asset balance for Angry Chickz as of December 31, 2024, is the sum of these two figures. This means the total investment in contract assets is $59,250.
For a prospective franchisee, understanding the breakdown of assets is crucial. Contract assets typically represent the costs Angry Chickz has incurred to fulfill its obligations under contracts with franchisees, for which revenue has not yet been recognized. The balance sheet provides a snapshot of the company's financial health and how it manages its assets and liabilities.