What was the beginning balance for Chocolate Bash for the period ending December 31, 2022?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
F DECEMBER 31, 2023 & DECEMBER 31, 2022 & DECEMBER 31, 2021
| Opening Equity Balance | Yearly Changes | Total | |
|---|---|---|---|
| Beginning Balance | $ (8,826) $ | - | $ (8,826) |
| Net Income for the period ending December 31, 2021 | - | 38,808 | 38,808 |
| Equity Contributions (Distributions) | - | 17,940 | 17,940 |
| Balance, December 31, 2021 | $ (8,826) | $ 56,7 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the beginning balance for the period ending December 31, 2022, was $47,922. This figure represents the company's equity balance at the start of that fiscal year.
During the year ending December 31, 2022, Chocolate Bash experienced a net income of $28,687 and equity distributions of $30,100. These yearly changes, when combined with the opening balance, resulted in a balance of $46,509 as of December 31, 2022.
For a prospective franchisee, understanding these figures provides insight into the financial health and equity management of Chocolate Bash. It's important to consider these balances in conjunction with other financial metrics to assess the overall stability and performance of the franchise.