What was the total amount of Exit's accounts payable in 2022?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
t for the purpose of expressing an opinion on the effectiveness of EXIT Realty Corp. International's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about EXIT Realty Corp. International's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Birmingham, Alabama
July 14, 2025
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024, 2023 AND 2022
ASSETS
| Capital Stock | ||||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||
| Issue |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the company's accounts payable totaled $6,593,994 in 2022. This figure represents the amount of money Exit owed to its suppliers and other creditors at the end of that fiscal year. Accounts payable are considered current liabilities, reflecting obligations due within a year.
For a prospective Exit franchisee, understanding the company's accounts payable can provide insight into its financial health and payment practices. A high accounts payable balance might indicate that Exit is taking advantage of favorable credit terms from its suppliers, or it could signal potential cash flow issues. Conversely, a low balance could suggest efficient cash management or less reliance on supplier credit.
It's important to note that accounts payable is just one aspect of Exit's overall financial picture. Franchisees should consider this figure in conjunction with other financial metrics, such as revenue, expenses, and total liabilities, to gain a comprehensive understanding of the company's financial stability and performance. Reviewing trends in accounts payable over multiple years, as presented in the table, can also offer valuable insights into Exit's financial management practices.