What was the reported total of Chesters' accrued liabilities in the provided financial data?
Chesters Franchise · 2025 FDDAnswer from 2025 FDD Document
| CURRENT LIABILITIES | |||
|---|---|---|---|
| Accounts payable | $ 1,070,100 | $ 2,904,502 | |
| Accrued liabilities | 2,070,417 | 1,285,555 | |
| Customer deposits | 361,152 | 609,822 | |
| Current maturities of long-term debt | 480,225 | 1,628,607 | |
| Current portion of operating lease liability | 121,564 | 181,240 | |
| Unearned franchise fees | 190,950 | 136,500 | |
| Total current liabilities | 4,294,408 | 6,746,226 |
Source: Item 23 — **RECEIPTS (FDD pages 48–197)
What This Means (2025 FDD)
According to Chesters' 2025 Franchise Disclosure Document, the company's accrued liabilities are detailed in the financial statements. The provided data shows accrued liabilities listed under current liabilities.
The accrued liabilities for the first period listed are $2,070,417, while for the second period, they are $1,285,555. These figures represent obligations that Chesters has incurred but not yet paid as of the balance sheet date. Accrued liabilities are a normal part of business operations, reflecting expenses like wages, utilities, or taxes that have been incurred but not yet remitted.
Prospective franchisees should understand that these liabilities reflect Chesters' financial obligations at a specific point in time. Monitoring these figures over time can provide insights into the company's financial management and potential risks. Reviewing these liabilities in the context of Chesters' overall financial health is advisable to assess the company's stability and ability to meet its obligations.