What was the amount of Dryject's accrued expenses in 2022?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
ther matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that I identified during the audit.
ROGER K. STEIN, CPA LLC
Neptune, New Jersey
April 2, 2024
DRYJECT MANAGEMENT, LLC BALANCE SHEETS DECEMBER 31, 2023 AND 2022
| 2023 | 2022 | |||
|---|---|---|---|---|
| ASSETS | ||||
| Current Assets: | ||||
| Cash | $ | 213,331 | $ | 168,705 |
| Accounts receivable | 70,586 | 206,666 | ||
| Total Current Assets | 283,917 | 375,371 | ||
| Intangible Assets: | ||||
| Goodwill | 1,509,159 | 1,509,159 | ||
| Organization costs | 9,618 1,518,777 | 9,618 1,518,777 | ||
| Less: Accumulated Amortization | - | (1,128,911) | (977,993 | |
| Net Intangible Assets | _ | 389,866 | - | 540,784 |
| Total Assets | $ | 673,783 | s | 916,155 |
| LIABILITIES AND MEMBER'S CAPITAL | ||||
| Current Liabilities: | ||||
| Accounts payable | $ | 95,314 | $ | 195,817 |
| Accrued expenses | 14,980 | 20,910 | ||
| Current portion of long-term debt | - | 161,548 | 148,217 | |
| Total Current Liabilities | - | 271,842 | - | 364,944 |
| Other Liabilities: | 372,752 | 542,827 | ||
| Long term debt - net of current portion | 7 |
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company's accrued expenses in 2022 were $20,910. This figure is part of the company's balance sheet, reflecting short-term liabilities that Dryject had not yet paid as of December 31, 2022. Accrued expenses typically include items like wages, salaries, taxes, and interest.
For a prospective Dryject franchisee, understanding the company's accrued expenses can provide insight into its short-term financial obligations and overall financial health. A higher level of accrued expenses might indicate that the company is managing its cash flow tightly or is facing some short-term financial pressures. Conversely, a lower level could suggest more robust financial management or better liquidity.
It's important to note that accrued expenses are a snapshot in time and can fluctuate. Reviewing these figures over several years, if available, would give a more comprehensive understanding of Dryject's financial management practices. Additionally, comparing these figures to industry benchmarks can help a franchisee assess whether Dryject's financial position is typical for similar businesses.