What was the total assets amount for Golden Corral as of January 3, 2024?
Golden_Corral Franchise · 2025 FDDAnswer from 2025 FDD Document
findings, and certain internal control-related matters that we identified during the audit.
Raleigh, North Carolina Februa1y 28, 2025
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Balance Sheets
January 1, 2025 and January 3, 2024
| January 1, 2025 | January 3, 2024 | |||||
|---|---|---|---|---|---|---|
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 12,572,686 | $ | 15,105,146 | ||
| Accounts receivable | 3,198,571 | 2,278,572 | ||||
| Other assets | 1,941,718 | 1,793,852 | ||||
| Total current assets | 17,712,975 | 19,177,570 | ||||
| Due from p |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 84)
What This Means (2025 FDD)
According to Golden Corral's 2025 Franchise Disclosure Document, the company's total assets as of January 3, 2024, were $41,797,402. This figure represents the sum of all the company's possessions and rights that have monetary value. These assets are used to operate the business and generate revenue. Understanding the asset base of a franchise system can provide insight into its financial stability and capacity for growth.
The assets are categorized into current assets, due from parent, noncurrent receivables, and cost of contracts. Current assets, which are assets expected to be converted to cash within a year, totaled $19,177,570 and include cash and cash equivalents of $15,105,146, accounts receivable of $2,278,572, and other assets of $1,793,852. The 'Due from parent' category, representing advances made to Golden Corral Corporation, amounted to $21,697,119. Noncurrent receivables were $269,286, and the cost of contracts was $653,427.
Prospective franchisees should consider the composition and trends in these asset categories. For instance, a significant portion of assets being 'Due from parent' indicates financial interactions with the parent company, which could influence the franchisee's operations. Monitoring the levels of cash and receivables can also provide insights into the company's liquidity and ability to meet short-term obligations. Reviewing these figures in comparison to previous years, as presented in the FDD, can help identify trends and potential areas of concern or strength.