How much did Canine Dimensions spend on the purchase of an automobile in 2022?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 3 Summary of Significant Accounting Policies (continued):
Fixed Assets
The Company capitalizes assets that have a useful life beyond one year. Fixed assets consist of an automobile that is recorded at cost and depreciated using primarily the straight line method over five years.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Canine Dimensions does not explicitly state the amount spent on the purchase of an automobile in 2022. However, Item 21 includes the audited financial statements for 2024, 2023, and 2022. Note 3 discusses fixed assets, stating that Canine Dimensions capitalizes assets with a useful life beyond one year, and that fixed assets consist of an automobile recorded at cost and depreciated using the straight-line method over five years.
While the financial statements are included, the specific amount spent on the automobile purchase is not detailed in the provided excerpts. To find this information, a prospective franchisee should review the complete audited financial statements within the FDD, specifically looking at the fixed assets or cash flow statements.
It would be beneficial to ask Canine Dimensions for clarification on the original cost of the automobile and the depreciation schedule to understand the company's capital expenditure and asset management practices. This information can help a franchisee understand the financial health and investment strategies of Canine Dimensions.