What is the total 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, in 2022, the total accounts payable and other current liabilities amounted to $6,667. Additionally, deferred revenue, which is also a current liability, was $8,086. These figures are part of the broader financial statement showing Gokhale Method's liabilities and equity.
These figures provide a snapshot of Gokhale Method's short-term financial obligations. Accounts payable typically represents the amounts owed to suppliers and vendors for goods or services received but not yet paid for. Deferred revenue, on the other hand, represents payments received for services or products that have not yet been delivered or provided.
For a prospective franchisee, understanding these liabilities is crucial as it reflects the company's financial health and its ability to meet its short-term obligations. A high level of current liabilities compared to current assets could indicate potential liquidity issues. However, in this case, the amounts appear manageable within the context of the company's overall financial position.
It is important to note that these figures are specific to the financial statement presented in the FDD and may not reflect the entire financial picture of Gokhale Method. Further due diligence, including reviewing the complete audited financial statements and consulting with a financial advisor, is recommended for any potential franchisee.