What was the balance at the end of the period for Chem Dry's receipts, as reported in 2023?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 23: Receipts]
| 2023 | |
|---|---|
| Balance at beginning of period | $2,990 |
| Additions charged to expense | 634 |
| Deductions/write-offs | (2,651) |
| Balance at end of period | $973 |
[Item 23: Receipts]
| 2023 | |
|---|---|
| Balance at beginning of period | $1,746 |
| Additions charged to expense | 292 |
| Deductions/write-offs | (923) |
| Balance at end of period | $1,115 |
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, there are two reported balances at the end of the period for 2023. One table shows a balance at the end of the period of $973. This is calculated from a beginning balance of $2,990, additions charged to expense of $634, and deductions/write-offs of ($2,651). Another table shows a balance at the end of the period of $1,115. This is calculated from a beginning balance of $1,746, additions charged to expense of $292, and deductions/write-offs of ($923).
It is important to note that the FDD includes multiple balance sheets, and these receipts may pertain to different entities or funds within the Chem Dry organization. A prospective franchisee should clarify with Chem Dry which of these receipt balances is most relevant to their potential franchise and understand the nature of the receipts being reported.
Understanding these balances and their components is crucial for a franchisee to assess the financial health and stability of Chem Dry. Reviewing the additions charged to expense and deductions/write-offs can provide insights into the company's financial management practices. It is advisable for potential franchisees to seek professional financial advice to interpret these figures in the context of their investment decision.