What were the total assets reported for Chocolate Bash as of December 31, 2022?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
2023 & DECEMBER 31, 2022 & DECEMBER 31, 2021 BALANCE SHEET
| ASSETS | 12/31/23 12/31/22 12/31/21 | ||
|---|---|---|---|
| CURRENT ASSETS | |||
| Cash and Cash Equivalents | $ 21,639 | $ 59,295 | $ 104,922 |
| Accounts Receivable | 2,153 | 21,194 | - |
| TOTAL CURRENT ASSETS | 23,792 | 80,489 | 104,922 |
| NON-CURRENT ASSETS | |||
| Due To/From Related Party | 35,956 | - | - |
| TOTAL NON-CURRENT ASSETS | 35,956 | - | - |
| TOTAL ASSETS | 59,748 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the company's total assets as of December 31, 2022, were $80,489. This figure provides a snapshot of the company's financial health at that specific point in time. It reflects the sum of all resources owned by Chocolate Bash, including cash, accounts receivable, and any other assets it held.
For a prospective franchisee, this number can be an indicator of the franchisor's financial stability and its ability to support its franchisees. A higher asset value generally suggests a stronger financial position. However, it is essential to consider this figure in conjunction with the company's liabilities and overall financial performance to get a comprehensive understanding.
It's also important to note the composition of these assets. The balance sheet shows that current assets, which include cash and cash equivalents ($59,295) and accounts receivable ($21,194), make up the entirety of the total assets. There were no non-current assets reported for 2022. Reviewing the trend of asset values over the three years presented (2021-2023) can provide further insight into the company's growth and financial management.