What was the total reported amount for total assets for Better Blend?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
udit.
April 28, 2023
Singer Jewak LLP
BALANCE SHEET DECEMBER 31, 2022
| ASSETS | |
|---|---|
| Current Assets | |
| Cash and cash equivalents | $ 63,295 |
| Total Assets | $ 63,295 |
| LIABILITIES AND MEMBERS' DEFICIT | |
| Current Liabilities | |
| Accounts payables and accrued expenses | $ 23,610 |
| Deferred revenue | 14,750 |
| Total Current Liabilities | 38,360 |
| Deferred revenue, noncurrent portion | 130,140 |
| Total Li |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, the company's total assets as of the balance sheet dated December 31, 2023, were reported as $63,295. This figure represents the sum of Better Blend's current assets, which consisted solely of cash and cash equivalents at that time.
For a prospective franchisee, this number provides a snapshot of Better Blend's financial health at the end of 2023. It's important to consider this figure in conjunction with the company's liabilities and overall financial statements to gain a comprehensive understanding of its financial stability. A low asset value may indicate that the company is still in its early stages of development or that it relies heavily on external financing.
It is also important to note that the total liabilities and members' deficit also equal $63,295. This indicates the accounting equation is in balance, where assets are equal to the sum of liabilities and equity. The members' deficit is a negative number, meaning that the liabilities exceed the assets. This is offset by the current and noncurrent deferred revenue, which are classified as liabilities.
Prospective franchisees should review the complete financial statements and consult with a financial advisor to assess the implications of Better Blend's asset value and overall financial condition before making an investment decision.