What was the reimbursement payable for Face Foundrie as of December 31, 2022?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| Accrued expenses as of December 31, 2024, 2023 and 2022 consist of the following: | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||||
| Reimbursement payable | $ | - | $10,049 | $ | - |
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the reimbursement payable as of December 31, 2022, was $0.
This figure is part of the accrued expenses reported by Face Foundrie for the fiscal year 2022. Accrued expenses represent liabilities that the company has incurred but not yet paid. In this case, there were no reimbursements payable listed as an accrued expense for 2022.
Prospective franchisees should understand that this figure reflects Face Foundrie's financial obligations at a specific point in time. Reviewing these historical financial statements can provide insights into the company's financial management and potential liabilities. It is important to monitor these trends over multiple years to assess the financial health and stability of the franchise.