What is the amount of the current portion subtracted from the long-term debt for Dryject in 2023?
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 current portion of long-term debt subtracted in 2023 was $161,548. This figure represents the amount of the company's long-term debt that is due within one year.
For a prospective Dryject franchisee, understanding the current portion of long-term debt is crucial because it reflects the company's short-term financial obligations. A higher current portion may indicate that a significant amount of debt needs to be paid off in the near term, which could strain the company's cash flow.
This information is typically found on the balance sheet, providing a snapshot of the company's assets, liabilities, and equity at a specific point in time. Reviewing these figures helps potential franchisees assess the financial health and stability of Dryject before investing.