What was the balance for Gokhale Method at December 31, 2023?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Balance at January 1, 2023 | 500 | - | $ | 5 | $ | 100,657 | $ 8,684 | $ | 109,346 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | - | - | 3,735 | 3,735 | ||||||
| Balance at December 31, 2023 | 500 | - | $ | 5 | $ | 100,657 | $ 12,419 |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the balance at December 31, 2023, is detailed in the provided table. Specifically, the table shows a balance of $113,081. This figure represents the total financial standing of Gokhale Method at the close of the fiscal year.
Additionally, the table provides a breakdown of how this balance was derived. The balance at January 1, 2023, was $109,346, and the net income during the year was $3,735. These two amounts combined result in the final balance of $113,081 at the end of December 31, 2023.
Prospective franchisees can use this information to understand the financial health and performance of Gokhale Method. Reviewing these figures in conjunction with other financial statements and disclosures in the FDD can provide a more comprehensive view of the franchise's financial stability and potential for growth.