What was the accounts payable amount to Hewitt Construction for Ledgers in 2023?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
ssified to conform to the current year presentation.
Subsequent Events
The Company has evaluated events and transactions for potential recognition or disclosure through April 28, 2025, which is the date the financial statements were available to be issued.
NOTE 2 - RELATED PARTY TRANSACTIONS
During the ordinary course of business, the Company enters into certain transactions with related parties substantially due to short term advances and cost reimbursements. The Company had related party transactions reco
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the accounts payable amount to Hewitt Construction in 2023 was $7,000. This figure represents the amount Ledgers owed to Hewitt Construction for services or goods received but not yet paid for as of the end of 2023.
Accounts payable is a standard accounting term representing short-term liabilities. For a prospective Ledgers franchisee, understanding the accounts payable to related parties like Hewitt Construction can provide insights into the company's financial obligations and relationships with its vendors.
It's worth noting that the FDD also lists accounts payable to other entities such as Zoomin Groomin and ATAX, LLC, which were significantly higher than the amount owed to Hewitt Construction in 2023. Reviewing these figures can help a potential franchisee assess the overall scale and distribution of Ledgers' short-term liabilities.