What was the total reported value of assets 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 company's total assets in 2022 were valued at $124,099. This figure represents the sum of current assets, including cash and cash equivalents of $120,141 and accounts receivable (net) of $3,958.
For a prospective franchisee, understanding the asset value of Gokhale Method provides insight into the financial health and stability of the company. A higher asset value can indicate a stronger financial position, which may translate to better support and resources for franchisees. However, it is essential to consider this figure in conjunction with liabilities and equity to get a comprehensive view of the company's financial standing.
It's also important to note that these figures are based on the financial statements of Gokhale Method Institute, Inc., a wholly-owned subsidiary of Gokhale Method Enterprise, Inc. Franchisees should consider the relationship between the parent company and the subsidiary when assessing the overall financial health of the franchise system. Reviewing the complete audited financial statements, including the notes, will provide a more detailed understanding of the company's assets, liabilities, and equity.