What was the reported total of accounts payable and accrued liabilities for Burros Fries?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
E, INC. BALANCE SHEET DECEMBER 31, 2022
LIABILITIES AND EQUITY
| Accounts payable and accrued liabilities | $ 17,999 |
|---|---|
| Income taxes payable | 2,937 |
| TOTAL CURRENT LIABILITIES | 20,936 |
| OTHER LIABILITIES | |
| Deferred franchise fees | 85,021 |
| TOTAL LIABILITIES | 105,957 |
| STOCKHOLDERS' EQUITY: | |
| Common stock, no par value, 100,000 shares | |
| authorized, issued and outstanding | - |
| Additional paid-in capital | 65,100 |
| Retained earnings | 83,049 |
| TOTAL STOCKHOLDERS' EQUITY | 1 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
According to Burros Fries' 2024 Franchise Disclosure Document, the company's balance sheet as of December 31, 2022, shows specific liabilities. Accounts payable and accrued liabilities totaled $17,999. Additionally, income taxes payable amounted to $2,937. These figures are part of the company's total current liabilities, which sum up to $20,936.
Beyond the current liabilities, Burros Fries also reported deferred franchise fees under other liabilities, which amounted to $85,021. Combining the total current liabilities and the deferred franchise fees, the total liabilities for Burros Fries reached $105,957 as of December 31, 2022.
In addition to liabilities, the balance sheet also details the stockholders' equity. The common stock is listed with no par value, with 100,000 shares authorized, issued, and outstanding. Additional paid-in capital is reported at $65,100, and retained earnings are $83,049. Therefore, the total stockholders' equity for Burros Fries is $148,149.