What was the amount of accounts payable and other current liabilities for Gokhale Method in 2022?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2022 | |
|---|---|
| ASSETS | |
| CURRENT ASSETS | |
| Cash and cash equivalents Accounts receivable, net | $ 120,141 3,958 |
| TOTAL ASSETS | $ 124,099 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |
| CURRENT LIABILITIES | |
| Accounts payable and other current liabilities Deferred revenue | $ 6,667 8,086 |
| Total liabilities | 14,753 |
| STOCKHOLDERS' EQUITY | |
| Common stock (1,000 voting shares authorized, 500 shares issued and outstanding, $0.01 par value) | 5 |
| Common stock (1,000 non-voting shares authorized, no shares issued and outstanding, $0.01 par value) | |
| Additional paid in capital | 100,657 |
| Retained earnings | 8,684 |
| Total stockholders' equity | 109,346 |
| TOTAL LIABILITIES & STOCKHOLDE |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the accounts payable and other current liabilities for 2022 was $6,667. This figure represents the short-term obligations Gokhale Method had to its suppliers, vendors, and other creditors at the end of the 2022 fiscal year. It's a snapshot of the company's immediate financial obligations.
In addition to accounts payable and other current liabilities, Gokhale Method also reported deferred revenue of $8,086 in 2022. Deferred revenue represents payments received for services or products that have not yet been delivered or rendered. The total liabilities for Gokhale Method in 2022 amounted to $14,753.
Prospective franchisees should consider these figures in the context of Gokhale Method's overall financial health. A high level of current liabilities relative to current assets could indicate potential liquidity issues. Reviewing these figures over several years, as presented in the FDD, can provide a more comprehensive understanding of the company's financial stability and its ability to meet its short-term obligations. Comparing these liabilities to industry benchmarks can also provide valuable insights.