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What was the loss on disposal of equipment for Golden Krust Caribbean Restaurant in 2021?

Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDD

Answer from 2024 FDD Document

GOLDEN KRUST FRANCHISING, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT YEARS ENDED DECEMBER 31, 2022 AND 2021

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)

What This Means (2024 FDD)

According to Golden Krust Caribbean Restaurant's 2024 Franchise Disclosure Document, the loss on disposal of equipment in 2021 was $0. This indicates that Golden Krust Franchising, Inc. did not incur any losses from the disposal of equipment during that year.

For a prospective franchisee, this information provides insight into the company's asset management and accounting practices. The absence of a loss on disposal of equipment could suggest efficient use and maintenance of equipment, or it could simply reflect a year with no significant equipment disposals.

It's important to note that this figure represents a single year and may not be indicative of future performance. A franchisee should consider this information in conjunction with other financial data and trends to gain a comprehensive understanding of the company's financial health and operational efficiency. Reviewing multiple years of financial statements would provide a more complete picture of how Golden Krust Caribbean Restaurant manages its assets and handles equipment disposal.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.