What was the total value of Dryject's accounts payable 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 company's accounts payable totaled $95,314 in 2023. This figure represents the amount Dryject owed to its creditors or suppliers at the end of the 2023 fiscal year. Accounts payable are short-term liabilities that Dryject is obligated to pay within a year.
For a prospective franchisee, understanding the accounts payable is crucial as it provides insight into Dryject's short-term financial obligations. A high accounts payable balance relative to its assets could indicate that Dryject is relying heavily on credit to finance its operations, which may pose a risk if the company faces financial difficulties. Conversely, a low accounts payable balance might suggest that Dryject has strong cash flow management and promptly pays its obligations.
It is important to note that the $95,314 account payable in 2023 is specifically owed to DryJect Inc. Acquisition Corporation, a related party with a common owner. This related-party transaction should be carefully considered by potential franchisees, as it may have implications for the company's financial stability and independence. Reviewing the trend of accounts payable over several years, as well as understanding the terms of these payables, can offer a more comprehensive view of Dryject's financial health.