What was the total value of Beard Papas' accrued expenses and other current liabilities in 2022?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
rol—related matters that we identified during the audit.
February 14, 2024
Muginoho International, Inc. (A Wholly-Owned Subsidiary of Nagatanien Holdings Co., Ltd.)
Balance Sheets
December 31, 2023 and 2022
| 2023 | 2022 | ||
|---|---|---|---|
| Assets | |||
| Current assets: | |||
| Cash and cash equivalents | $ | 1,194,859 | $ 1,225,836 |
| Accounts receivable | 186,849 | 362,007 | |
| Due from affiliates | 5,165 | 11,854 | |
| Inventories | 212,294 | 26,769 | |
| Prepaid expenses and other current assets | 35,788 | 33,495 | |
| Total current assets | 1,634,955 | 1,659,961 | |
| Construction in Progress | 434,139 | ||
| Right-of-use asset | 449,965 | 2,626 | |
| Security deposits and other assets | 27,623 | 27,623 | |
| Intangibles, net | 1,302 | 5,478 | |
| Total assets | 2,547,984 | $ 1,695,688 | |
| Liabilities and stockholder's equity | |||
| Current liabilities: | |||
| Accounts payable | $ | 254,439 | $ 43,193 |
| Due to affiliates | 527 | 25,955 | |
| Accrued expenses and other current liabilities | 336,439 | 205,766 | |
| Lease liability - current | 106,348 | - | |
| Total current liabilities | 697,753 | 274,914 | |
| Deposit payable | 87,500 | 102,500 | |
| Lease liability - noncurrent | 367,141 | 2,626 | |
| Total liabilities | 1,152,394 | 380,040 | |
| Commitments | |||
| Stockholder's equity: | |||
| Common stock, no par value; authorized 200 shares; issued and | |||
| outstanding 10 shares | 100,000 | 100,000 | |
| Additional paid-in capital | 7,932,391 | 7,932,391 | |
| Accumulated deficit, since January 1, 2014 when a deficit of | |||
| $1,188,609 was eliminated th |
Source: Item 23 — RECEIPTS (FDD pages 58–275)
What This Means (2025 FDD)
According to Beard Papas's 2025 Franchise Disclosure Document, the company's accrued expenses and other current liabilities totaled $205,766 in 2022. This figure represents the short-term financial obligations Beard Papas had to its creditors, vendors, and other parties at the end of that fiscal year. These liabilities are considered current because they are expected to be settled within one year.
Accrued expenses typically include items such as salaries owed to employees, rent, utilities, and taxes that have been incurred but not yet paid. Other current liabilities can encompass a range of short-term debts, such as deferred revenue, short-term loans, and the current portion of long-term debt. The total value of these liabilities provides insight into Beard Papas's short-term financial health and its ability to meet its immediate obligations.
For a prospective Beard Papas franchisee, understanding the company's financial liabilities is crucial. While this specific figure reflects the company's obligations, franchisees should also consider their own potential liabilities, including franchise fees, royalties, and operating expenses. Reviewing the complete financial statements and seeking professional financial advice can help potential franchisees assess the overall financial stability of Beard Papas and make informed decisions.