table_specific

What was the amount of All Team's accrued expenses in 2023?

All_Team Franchise · 2025 FDD

Answer from 2025 FDD Document

$ | 667,144 | $ | 787,144 |

ALL TEAM FRANCHISE CORPORATION STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

2024 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ (43,528) $ 201,944
Adjustments to reconcile net income to net cash
provided by operating activities:
Allowance for credit losses 6,000 5,501
Changes in account balances:
Accounts receivable - trade 479,748 1,387,458
Prepaid expenses (61,295) (16,270)
Advances (434,801) (605,008)
Due from IRS 49,780 (49,780)
Accounts payable-trade (882) 3,528
Accrued expenses (107,077) (45,671)
Other funding liabiliti

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)

What This Means (2025 FDD)

According to All Team's 2025 Franchise Disclosure Document, the company's accrued expenses in 2023 were a negative amount, specifically ($45,671). This figure is part of the adjustments made to reconcile net income to net cash provided by operating activities. Accrued expenses typically represent liabilities that have been incurred but not yet paid, such as wages, salaries, or taxes.

The negative value for accrued expenses in 2023 suggests a decrease in these unpaid liabilities compared to the previous year. This could be due to various factors, such as the timing of payments, changes in expense recognition, or adjustments to prior accruals. It's important to note that this figure is part of a larger financial statement and should be analyzed in conjunction with other line items to gain a comprehensive understanding of All Team's financial performance.

Prospective franchisees should be aware of these financial details as they provide insights into the company's cash flow management and overall financial health. Understanding the reasons behind fluctuations in accrued expenses can help franchisees assess the stability and potential risks associated with investing in an All Team franchise. It would be prudent for potential franchisees to seek clarification from All Team regarding the specific factors contributing to the decrease in accrued expenses during 2023 to ensure a clear understanding of the company's financial practices.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.