What were Bonchon's total current liabilities as of December 31, 2023?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
BONCHON FRANCHISE, LLC (A Limited Liability Company) BALANCE SHEETS DECEMBER 31, 2024 AND 2023
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the company's balance sheets provide a snapshot of its financial position at the end of 2024 and 2023. The balance sheets detail Bonchon's assets, liabilities, and member's equity, offering insights into its financial health and obligations. The independent auditor's report indicates that the financial statements present fairly the financial position of Bonchon as of December 31, 2024 and 2023.
As of December 31, 2023, Bonchon's total current liabilities amounted to $11,443,484. This figure represents the sum of obligations due within one year, including accounts payable, accrued expenses, and deferred revenue. Current liabilities are a critical metric for assessing a company's short-term financial stability and its ability to meet its immediate obligations.
Prospective franchisees should carefully consider Bonchon's current liabilities in relation to its assets and revenues. A high level of current liabilities relative to current assets may indicate potential liquidity issues. Reviewing these figures in the context of Bonchon's overall financial statements, including the statements of income and cash flows, will provide a more comprehensive understanding of the company's financial condition and its ability to support its franchisees.