What was the total amount of Mr. Sandless's security deposit at the end of 2023?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Muhammad Zubairy, CPA Valley Stream, NY April 2, 2024
MR. SANDLESS FRANCHISE, LLC BALANCE SHEETS
| ASSETS | ||
|---|---|---|
| YEARS ENDED DECEMBER 31 | ||
| 2023 | 2022 | |
| Current Assets | ||
| Cash | $ 50,575 | $ 8,760 |
| Accounts receivable | 49,667 | 45,783 |
| Inventory | 8,013 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless's 2025 Franchise Disclosure Document, the company held a security deposit of $2,000 as of December 31, 2023. This figure is part of the company's assets. The security deposit remained the same from 2022 to 2023.
For a prospective franchisee, this indicates that Mr. Sandless maintains a relatively small security deposit. This could be related to leases or other contractual obligations of the company.
It is important to note that while the security deposit amount is consistent, other financial figures such as cash, accounts receivable, and total assets experienced changes between 2022 and 2023. Reviewing these changes can provide a broader understanding of the company's financial health.