What was the amount of income taxes recoverable for 1-800-GOT-JUNK? as of December 31, 2024?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
Assets
Current assets: Cash $ 6,452,149 $ 2,588,388 Short-term investment 100,578 100,175 Accounts receivable (net of allowance for doubtful accounts: 2023 - $690,491 (2022 - $153,943)) 21,204,821 15,175,147 Due from related parties 2,010,218 Prepaid expenses
109,478 5,000 Income taxes recoverable
12,298 73,995
29,889,542 17,942,735
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the income taxes recoverable as of December 31, 2023, was $12,298. The document does not specify the amount of income taxes recoverable as of December 31, 2024.
It is important to note that the balance sheets included in the FDD are presented for December 31, 2023, and December 31, 2022, but not for December 31, 2024. The absence of this information means prospective franchisees cannot directly assess the trend in income taxes recoverable from the provided financial statements.
A prospective 1-800-GOT-JUNK? franchisee should inquire with the franchisor about the income taxes recoverable as of December 31, 2024, to gain a clearer understanding of the company's financial position and tax-related assets. Understanding this figure can help in evaluating the company's overall financial health and its efficiency in managing tax obligations.