What was the accumulated depreciation for Corporate Cleaning Group in 2022?
Corporate_Cleaning_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
the depreciable assets are:
| Equipment | 5 - 7 |
|---|---|
| Furniture and fixtures | 7 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 51)
What This Means (2025 FDD)
According to Corporate Cleaning Group's 2025 Franchise Disclosure Document, the document does not explicitly state the accumulated depreciation for the year 2022. However, the depreciation expense for 2022 is disclosed.
The FDD indicates that the depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $5,359, $3,959 and $655, respectively. Depreciation expense represents the amount of an asset's cost that has been allocated to expense over a specific period.
While the depreciation expense is provided, the accumulated depreciation, which is the total depreciation recognized on an asset from the date of acquisition up to a specific date, is not disclosed in this excerpt. A prospective franchisee may want to ask Corporate Cleaning Group for the accumulated depreciation figures to gain a better understanding of the company's asset values and financial position.