For Anago, what do the notes receivable consist of as of December 31, 2024, 2023, and 2022?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
dditional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year. It is the Company's policy to recognize any interest and penalties in operating expenses. The federal and state tax returns for the Company for 2024, 2023 and 2022, are subject to examination by the Internal Revenue Service ("IRS") and state authorities.
Cash Flow Information
Cash disbursements for interest during the years ended December 31, 2024, 2023, and 2022 totaled $26,064, $31,829, and $42,207, respectively. Cash disbursements for income taxes during the years ended December 31, 2024, 2023, and 2022 totaled $494,312, $215,857, and $180,024, respectively.
NOTE B – OPERATING INCOME ANALYSIS
A summary of the operating income is as follows:
| INC. | AND | SUBSIDIARIES | |
|---|---|---|---|
| NOTES TO CONSOLIDATED | FINANCIAL | STATEMENTS | |
| DECEMBER | 31, 2024, 2023, | and | 2022 |
NOTE C – NOTES RECEIVABLE
The Company has a note receivable with a related entity by common ownership totaling $529,500 bearing an interest rate of 2.94%. The principal balance and accrued interest payment is due in May 2038. Therefore, the note rec
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the company's notes receivable consist of several components. One component is a note receivable with a related entity by common ownership totaling $529,500, bearing an interest rate of 2.94%, with the principal balance and accrued interest due in May 2038. This is considered a long-term asset on the consolidated balance sheets. The balance for this note receivable was $529,500 for each of the years ending December 31, 2024, 2023, and 2022.
Another component is a note receivable with a master franchise, bearing an interest rate of 2.00%, requiring monthly payments of principal and interest totaling $2,194 through March 2023. This note receivable is not secured. As of December 31, 2024, and 2023, the balance was $21,738, and as of December 31, 2022, it was $36,552.
Additionally, Anago had a note receivable with a master franchise with a balance of $2,500 as of December 31, 2022, which was not secured and due on demand. This note was paid off during 2023. Finally, notes receivable also consist of franchise notes receivable for the initial purchases of the master franchisee territories. These totaled $46,724 as of December 31, 2024, $54,794 as of December 31, 2023, and $60,925 as of December 31, 2022. These figures provide a detailed breakdown of the types and amounts of notes receivable Anago held during these periods.