What was the total amount of accounts payable and accrued expenses for Mr. Sandless at the end of 2024?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
ignificant audit findings, and certain internal control-related matters that we identified during the audit.
Muhammad Zubairy, CPA Valley Stream, NY April 1, 2025
MR. SANDLESS FRANCHISE, LLC BALANCE SHEETS
| ASSETS | ||||
|---|---|---|---|---|
| YEARS ENDED DECEMBER 31 | 2024 | 2023 | ||
| Current Assets | ||||
| Cash | $ | 35,452 | $ | 50,575 |
| Accounts receivable | 41,949 | 49,667 | ||
| Inventory | 8,013 | 8,013 | ||
| Due from related party | 300 | 64,122 | ||
| Total Current Assets | 85,714 | 172,377 | ||
| Property and Equipment-net | 44,492 | 64,898 | ||
| Security deposit | 2,000 | 2,000 | ||
| Total Assets | $ | 132,206 | $ | 239,275 |
| LIABILITIES AND MEMBERS' (DEFICIT) | ||||
| Current Liabilities | ||||
| Accounts payable and accrued expenses | $ | 4,275 | $ | 244 |
| Contract Liability | 57,000 61, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, the total accounts payable and accrued expenses as of December 31, 2024, were $4,275. This figure represents the company's short-term liabilities, including outstanding payments to suppliers and other accrued expenses.
For a prospective franchisee, understanding the accounts payable and accrued expenses of Mr. Sandless can provide insight into the company's short-term financial obligations and its ability to manage its current liabilities. A higher amount might indicate potential strain on the company's immediate cash flow, while a lower amount could suggest efficient management of its financial obligations.
It's important to note that this figure is just one component of Mr. Sandless's overall financial health. A prospective franchisee should review the complete financial statements, including the balance sheets, income statements, and cash flow statements, to gain a comprehensive understanding of the company's financial condition and performance. Additionally, comparing these figures with previous years and industry benchmarks can provide valuable context.