What were the total liabilities for Canine Dimensions in 2022?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
| ASSETS | 2023 | 2022 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | 406,640 | 245,263 |
| FIXED ASSETS | ||
| Automobile | 31,923 | 31,923 |
| Less: Accumulated Depreciation | (23,271) | (19,200) |
| Net Fixed Assets | 8,652 | 12,723 |
| OTHER ASSETS | ||
| Franchise Costs | 40,329 | 40,329 |
| Security Deposit | 9,800 | - |
| Total Other Assets | 50,129 | 40,329 |
| TOTAL ASSETS | 465,421 | 298,315 |
| LIABILITIES AND MEMBER'S EQUITY | ||
| CURRENT LIABILITIES | ||
| Deferred Revenue - Initial Fee, Current | 21,000 | 17,500 |
| Deferred Revenue - Renewal Fee, Current | 700 | 700 |
| TOTAL CURRENT LIABILITIES |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2025 FDD)
According to Canine Dimensions' 2025 Franchise Disclosure Document, the liabilities are broken down into current liabilities. In 2022, Canine Dimensions' current liabilities consisted of $17,500 in deferred revenue from initial fees and $700 in deferred revenue from renewal fees.
Therefore, the total current liabilities for Canine Dimensions in 2022 were $18,200. It is important to note that the provided financial statement only details current liabilities.
A prospective franchisee should be aware of the different types of liabilities a company can have, such as current and non-current liabilities, to fully understand the financial obligations of Canine Dimensions. Reviewing the complete audited financial statements, including the balance sheets and accompanying notes, will provide a more comprehensive understanding of Canine Dimensions' financial health and stability.