What were the total current assets of Bombs Away Franchising LLC on December 31, 2023?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
| | We have not been in business for three years or more, and therefore cannot include all | |---|---| | financial statements required by the Franchise Rule of the Federal Trade Commission. Exhibit C | | | contains our audited financial statements dated December 31, 2023 and opening balance sheet | | | dated | |
BOMBS AWAY FRANCHISING
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the company's balance sheet as of December 31, 2023, shows the total current assets. The balance sheet provides a snapshot of the company's assets, liabilities, and equity at a specific point in time, offering insights into its financial health.
Specifically, the balance sheet lists the current assets, which are assets expected to be converted to cash or used up within one year. These include cash, accounts receivable, and prepaid expenses. For Bombs Away, the total current assets as of December 31, 2023, amounted to $34,497.
This information is crucial for prospective franchisees as it provides a clear picture of Bombs Away's financial standing and its ability to meet short-term obligations. A healthy level of current assets indicates that the company has sufficient liquidity to manage its day-to-day operations and support its franchisees. Franchisees can use this data to assess the financial stability of Bombs Away before making a decision to invest in a franchise.