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What was the total amount of non-current assets for Crab N Spice as of December 31, 2021?

Crab_N_Spice Franchise · 2024 FDD

Answer from 2024 FDD Document

OF DECEMBER 31, 2023 & DECEMBER 31, 2022 & DECEMBER 31, 2021 BALANCE SHEET

12/31/23 12/31/22 12/31/21
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents $ 224 $ 1,683 $ 46,524
Due from Affiliate 152,840 132,232 52,374
Accounts Receivable 67,606 38,871 7,757
TOTAL CURRENT ASSETS 220,669 172,786 106,655
NON-CURRENT ASSETS
TOTAL NON-CURRENT ASSETS - - -
TOTAL ASSETS 220,670 172,786 106,655
LIABILITIES AND OWNER'S EQUITY
CURRENT LIABILITIES
Due to Affiliate 62,698 113,689 46,808
Company Credit Card 32,662 34,685 4,731
Payroll Liabilities 10,535 - -
TOTAL CURRENT LIABILITIES 105,895 148,374 51,539
NON-CURRENT LIABILITIES
TOTAL NON-CURRENT LIABILITIES - - -
TOTAL LIABILITIES 105,895 148,374 51,539
OWNER'S EQUITY
Retained Earnings (Deficit) 142,505 28,918 42,474
Net Income (Loss) (27,731) (4,507) 12,642
TOTAL SHAREHOLDERS' EQUITY 114,774 24,411 55,116
TOTAL

Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 40–50)

What This Means (2024 FDD)

According to Crab N Spice's 2024 Franchise Disclosure Document, the company's balance sheet provides a snapshot of its assets, liabilities, and equity as of December 31, 2023, December 31, 2022, and December 31, 2021.

Specifically, the balance sheet lists the total non-current assets for Crab N Spice as of December 31, 2021. Non-current assets are those not expected to be converted to cash within one year.

As of December 31, 2021, Crab N Spice's total non-current assets amounted to $0. This indicates that the company did not hold significant long-term assets at that time.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
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