What was the total for payroll liabilities for Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 6 ( | Other Current Liabilities | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|---|
| ( | Credit Card Liabilities | ||
| Credit Card at BOA4100 | 1,277.11 | 8,660.91 | |
| Credit Card at Chase | 36,525.47 | 48,735.96 | |
| Chase United | 29,956.61 | 434.79 | |
| Credit BCBS | 3,726.42 | 1,405.36 | |
| Citibank AAdvantage | 10,970.12 | 3,252.89 | |
| Total credit card Liabilities | 82,455.73 | 62,489.91 | |
| ( | Other Liabilities | ||
| Franchise fees advance | 162,500.00 | 18,000.00 | |
| Audit fees Payable | 19,050.00 | ||
| Payroll Liabilities | 12409.52 | 0.00 | |
| Health Insurance (pre-tax) | |||
| Total Payroll liabilities | 12409.52 | 0.00 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total payroll liabilities as of December 31, 2023, were $12,409.52. In contrast, the payroll liabilities were $0.00 as of December 31, 2022.
This figure represents the amount Best Brains owed to its employees or related entities for payroll-related expenses at the end of the fiscal year. This includes items such as accrued salaries, wages, and payroll taxes.
Prospective franchisees should note the increase in payroll liabilities from 2022 to 2023. While a $0 balance is unusual, the increase to $12,409.52 may reflect business growth or changes in compensation structures. It is important to consider these liabilities when assessing the overall financial health of Best Brains.