What were the total assets reported for Golden Krust Caribbean Restaurant at the end of 2023?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
Shareholders Golden Krust Franchising, Inc. White Plains, New York
Opinion
We have audited the accompanying consolidated financial statements of Golden Krust Franchising, Inc., which comprise the consolidated balance sheets as of December 31, 2023 and 2022, and the related consolidated statements of operations, changes in shareholders' deficit, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Golden Krust Franchising, Inc. as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
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 consolidated balance sheets show the company's total assets. As of December 31, 2023, Golden Krust Caribbean Restaurant reported total assets of $7,487,444.
Understanding a company's assets is crucial for potential franchisees. Assets represent what the company owns and can use to generate revenue. A higher asset value can indicate financial stability and the ability to meet obligations. For a prospective Golden Krust Caribbean Restaurant franchisee, this figure provides insight into the financial health of the franchisor.
It is important to note that these figures are part of the consolidated financial statements, which include the accounts of Golden Krust Franchising, Inc. and its wholly-owned subsidiaries. Reviewing these statements in detail, along with the accompanying notes, can give a potential franchisee a more comprehensive understanding of the franchisor's financial position.