What was the total liabilities and members' equity for Browns Chicken in 2022?
Browns_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
tegral part of these financial statements)
BROWN'S CHICKEN, LLC CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2022
LIABILITIES AND MEMBERS' EQUITY
| 2023 | 2022 | ||
|---|---|---|---|
| CURRENT LIABILITIES: | |||
| Accounts Payable | $ 16,968 | $ 11,819 | |
| Accounts Payable - VIE | 5,356 | 3,334 | |
| Accrued Payroll | 3,411 | 3,342 | |
| Notes Payable, Current | - | 4,446 | |
| Total Current Liabilities | 25,735 | 22,941 | |
| NON-CURRENT LIABILITIES: | |||
| Notes Payable, Non-Current | - | - | |
| Total Non-Current Liabilities | - | - | |
| Total Liabilities | 25,735 | 22,941 | |
| EQUITY: | |||
| Members' Equity (Page 5) | 533,296 | 512,892 | |
| Non-Controlling Inter |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Browns Chicken's 2025 Franchise Disclosure Document, the consolidated balance sheet shows the total liabilities and members' equity for 2022 was $599,069. This figure represents the sum of all the company's liabilities (its debts and obligations to others) and the equity held by its members (owners).
Breaking down the liabilities, Browns Chicken had current liabilities totaling $22,941 in 2022. These are obligations due within one year, including accounts payable of $11,819, accounts payable to variable interest entities (VIE) of $3,334, accrued payroll of $3,342, and current notes payable of $4,446. The company had no non-current liabilities reported for 2022.
Turning to equity, the members' equity was $512,892, with an additional non-controlling interest of $63,236, bringing the total members' equity to $576,128. The sum of the total liabilities ($22,941) and the total members' equity ($576,128) equals the reported total liabilities and members' equity of $599,069 for Browns Chicken in 2022. This balance sheet provides a snapshot of the company's financial position at the end of 2022, reflecting what it owes and what it owns.