What was the amount of accounts payable and other current liabilities for the Gokhale Method in 2023?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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| 2023 | |
|---|---|
| ASSETS | |
| Cash and cash equivalents Accounts receivable, net | $ 154,584 15,944 |
| TOTAL ASSETS | $ 170,528 |
| LIABILITIES AND STOCKHOLDER'S EQUITY | |
| LIABILITIES Accounts payable and other current liabilities Deferred revenue | $ 8,491 48,956 |
| Total liabilities | 57,447 |
| STOCKHOLDER'S 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 Retained earnings | 100,657 12,419 |
| Total stockholder's equity | 113,081 |
| TOTAL LIABILITIES & STOCKHOLDER'S EQ |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the company's accounts payable and other current liabilities totaled $8,491 in 2023. This figure represents the short-term obligations Gokhale Method had to its suppliers, vendors, and other creditors at the end of the fiscal year. It is a key indicator of the company's short-term financial health and liquidity.
For a prospective franchisee, understanding the franchisor's liabilities is crucial. A high level of current liabilities relative to assets could indicate financial strain, potentially affecting the franchisor's ability to support its franchisees. Conversely, a manageable level of liabilities suggests financial stability.
It is important to note that this figure reflects the liabilities of Gokhale Method Institute, Inc. Specifically, and may not represent the entire Gokhale Method Enterprise. Franchisees should analyze these figures in conjunction with other financial metrics and compare them to industry benchmarks to assess the financial health of the Gokhale Method franchise system.