What was the other expense for Ledgers in 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
,914 | | Net loss | | (447,527) | (447,527) | | Balances, December 31, 2022 | 3,200,000 | (1,495,613) | 1,704,387 | | Adoption of Topic 326 | | (42,286) | (42,286) | | Net loss (Restated) | | (506,600) | (506,600) | | Balances, December 31, 2023 (Restated) | 3,200,000 | (2,044,499) | 1,155,501 | | Net loss | | (361,991) | (361,991) | | Balances, December 31, 2024 | $ 3,200,000 | $ (2,406,490) | $ 793,510 |
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Statements of Cash Flow
For the Years Ended December 31, 2024, 2023, and 2022
| 2024 | 2023 | 2022 | |||
|---|---|---|---|---|---|
| Cash flows from operating activities: | J.S | ||||
| Net loss | $ | (361,991) | $ (506,600) | $ | (447,527) |
| Adjustments to reconcile net loss to net cash | |||||
| used in operating activities: | |||||
| Change in allowance for credit losses | = | 67,468 | - | ||
| Write off of notes receivable, net of | |||||
| deferred revenue | 46,310 | 226,854 | = | ||
| Accrued interest income | (5,550) | (72,480) | (5,718) | ||
| Benefit from income taxes | (104,000) | (98,000) | (153,000) | ||
| (Increase) decrease in: | × (3) | ||||
| Royalty receivables | 112 | (3,302) | - | ||
| Notes receivable | = | 11,929 | 1,252 | ||
| Increase (decrease) in: | |||||
| Accounts payable | æ | (110,964) | 6,410 | ||
| Accrued expenses | (5,220) | 4,823 | (3,362) | ||
| Deferred revenue | (40,989) | (113,362) | (114,383) | ||
| Net cash used in operating activities | (471,328) | (593,634) | (716,328) | ||
| Cash flows from investing activities: | |||||
| (Advances to) borrowings |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the other expense for Ledgers in 2024 was $485. This figure is part of the broader category of "Other (income) expense," which also includes interest income and other income.
For a prospective franchisee, understanding these "other" expenses can provide a more detailed picture of Ledgers' financial performance. While $485 may seem small, it's important to consider what this category encompasses. These expenses, though individually minor, can collectively impact the overall profitability of the franchise.
It's also worth noting that the total "Other (income) expense" for Ledgers in 2024 was a negative $24,290, indicating that the company had more income than expenses in this category. This is primarily due to the significant interest income of $24,775. Franchisees should inquire about the nature of these other expenses to better understand the financial dynamics of Ledgers.