What was the total amount of cash and cash equivalents for Bombs Away?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
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BOMBS AWAY FRANCHISING LLC BALANCE SHEET AS OF DECEMBER 31, 2022
| ASSETS | |
|---|---|
| CURRENT ASSETS | |
| Cash and Cash Equivalents | $ 50,000 |
| TOTAL CURRENT ASSETS | 50,000 |
| NON-CURRENT ASSETS | |
| TOTAL NON-CURRENT ASSETS | - |
| TOTAL ASSETS | 50,000 |
| LIABILITIES AND OWNER'S EQUITY | |
| CURRENT LIABILITIES | - |
| TOTAL CURRENT LIABILITIES | |
| NON-CURRENT LIABILITIES | |
| TOTAL NON-CURRENT LIABILITIES | - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the balance sheet as of December 31, 2023, shows cash and cash equivalents totaling $50,000. This figure is listed under current assets, and the total current assets also amount to $50,000. The total assets for Bombs Away as of this date are also reported as $50,000.
In comparison, the balance sheet as of December 31, 2022, indicates a cash and cash equivalents balance of $5,000. This amount is part of the total current assets of $5,515, with the difference primarily accounted for by accounts receivable of $515. The total assets for Bombs Away at the end of 2022 were $5,515.
It's important for a prospective franchisee to note the significant increase in cash and cash equivalents from 2022 to 2023. This could reflect increased revenue, capital infusions, or changes in financial strategy. Reviewing the full financial statements and discussing these changes with Bombs Away can provide valuable insights into the company's financial health and stability.