What was Bor Restoration's deferred revenue at the beginning of 2021?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
December 31, 2019. The years subsequent to this year contain matters that could be subject to differing interpretations of applicable tax laws and regulations. Although the outcome of tax audits is uncertain, the Company believes no issues would arise.
Notes To Financial Statements For The Years Ended December 31, 2023, 2022 and 2021
Page -11-
(4) Deferred Revenue
Deferred revenue consisted of the following as of December 31, 2023, 2022 and 2021:
The following
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the deferred revenue at the beginning of 2021 is not explicitly listed in the provided tables. However, the table regarding receipts includes deferred revenue at the end of 2021, which is $94,377.
Another table shows the deferred revenue as part of the liabilities. The deferred revenue at the end of 2021 was $94,350.
To find the exact deferred revenue at the beginning of 2021, a prospective franchisee should verify this information with Bor Restoration. Understanding deferred revenue is crucial for assessing the company's financial health and how it manages its revenue recognition.