What was RJon Robins' capital contribution to Red Wagon Club as of July 16, 2024?
Red_Wagon_Club Franchise · 2024 FDDAnswer from 2024 FDD Document
iscal year end is May 31.
EXHIBIT D
FINANCIAL STATEMENTS
Red Wagon Club Franchise LLC
Balance Sheet As of July 16, 2024
| TOTAL | |
|---|---|
| ASSETS | |
| Current Assets | |
| Bank Accounts | |
| City National Bank | 90,000.00 |
| Total Bank Accounts | $90,000.00 |
| Total Current Assets | $90,000.00 |
| TOTAL ASSETS | $90,000.00 |
| LIABILITIES AND EQUITY | |
| Total Liabilities | |
| Equity | |
| Capital Contribution | |
| David Carrier | 45,000.00 |
| RJon Robins | 45,000.00 |
| Total Capital Contribu |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2024 FDD)
According to Red Wagon Club's 2024 Franchise Disclosure Document, RJon Robins made a capital contribution of $45,000 to the company as of July 16, 2024. This information is derived from the company's balance sheet, which is included in the FDD as Exhibit D. The balance sheet provides a snapshot of Red Wagon Club's assets, liabilities, and equity at that specific date.
The balance sheet details the breakdown of equity within the company. The total capital contribution to Red Wagon Club was $90,000, split evenly between David Carrier and RJon Robins. David Carrier also contributed $45,000. The balance sheet also shows that the total assets and total liabilities and equity were both $90,000.
It's important to note that the financial statements included in the 2024 FDD have not been audited by an independent certified public accountant. This means that the figures presented, including RJon Robins' capital contribution, have not been independently verified for accuracy or compliance with accounting standards. Prospective franchisees should be aware of this limitation and consider it when evaluating the financial health and stability of Red Wagon Club.
Given that the company was recently formed on June 27, 2024, the balance sheet provides limited historical financial data. A prospective franchisee should consider requesting additional financial information from Red Wagon Club to gain a more comprehensive understanding of the company's financial performance and future prospects. This is a common practice when evaluating a new franchise opportunity.