What was the total amount of Exit's current liabilities in 2023?
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 total current liabilities in 2023 amounted to $14,310,735. Current liabilities are obligations due within one year, representing Exit's short-term financial obligations. These liabilities include items such as bank overdrafts, accounts payable, income taxes payable, and the current portion of deferred revenue.
Understanding the composition and amount of current liabilities is crucial for prospective franchisees. A high level of current liabilities relative to current assets could indicate liquidity issues, meaning Exit might struggle to meet its short-term obligations. This could affect Exit's ability to support its franchisees or invest in system-wide improvements.
For example, Exit's current liabilities include $8,030,086 in accounts payable, which represents the amount Exit owes to its suppliers and vendors. Additionally, the current portion of deferred revenue, which is $3,636,617, reflects payments Exit has received for services or products that have not yet been delivered or earned. Monitoring these figures helps assess Exit's financial health and stability.
Prospective franchisees should analyze these figures in conjunction with Exit's assets and overall financial performance to gain a comprehensive understanding of the company's financial position. It is also important to monitor how these liabilities change over time to identify any potential trends or issues that could impact the franchise system.