What was the total value of Learningrx's assets as of September 30, 2023?
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 company's total assets as of September 30, 2023, amounted to $1,193,151. This figure represents the sum of Learningrx's current assets, property and equipment, and other noncurrent assets at that specific point in time. Current assets, which are those expected to be converted to cash within a year, included $551,641 in cash and cash equivalents and $243,535 in accounts receivable.
Property and equipment, net of depreciation, were valued at a modest $2,432, reflecting the depreciated value of equipment and software. Other noncurrent assets, which are not easily converted to cash, included deferred income taxes of $155,827 and right-of-use assets of $220,053. These components collectively contributed to the total asset value reported on Learningrx's balance sheet.
For a prospective franchisee, understanding the asset composition of Learningrx provides insight into the financial health and structure of the company. A significant portion of assets held in cash and accounts receivable suggests liquidity, while the presence of deferred tax assets indicates potential future tax benefits. Monitoring these figures over time, as presented in comparative balance sheets, can reveal trends in Learningrx's financial management and investment strategies.