What was the reported total assets value for Learningrx in the first column?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Springfield, Missouri
January 3, 2024
LearningRx Franchise Corporation Balance Sheets As of September 30, 2023 and 2022
Assets
| 2023 | 2022 | |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents Accounts receivable, net of allowance of | $ 551,641 | $ 534,941 |
| $23,629 in 2023 and $46,075 in 2022 | 243,535 | 246,972 |
| Prepaid expenses | 1,635 | |
| Deferred income tax asset | 19,663 | 24,158 |
| Total Current Assets | 814,839 | 807,706 |
| Property and Equipment |
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, the total assets reported for the year 2023 was $1,193,151. This figure represents the sum of Learningrx's current assets, property and equipment, and other noncurrent assets as of September 30, 2023. The assets include cash and cash equivalents, accounts receivable, prepaid expenses, deferred income tax assets, equipment and software, deferred income taxes, and right-of-use assets.
Understanding the composition of Learningrx's assets can provide potential franchisees with insights into the financial health and structure of the company. A significant portion of the assets is tied to deferred income taxes and right-of-use assets, which are related to lease liabilities. This indicates that Learningrx has long-term lease obligations that impact its asset values.
Reviewing the balance sheet helps prospective franchisees assess Learningrx's financial stability and its ability to meet its obligations. Comparing the asset values from 2023 to 2022 shows a slight decrease in total assets, which could be due to changes in various asset categories such as right-of-use assets and deferred income taxes. This information, combined with other financial statements, can help in making an informed investment decision.