What was Bor Restoration's deferred revenue at the end of 2022?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
1, 2019. The Company is no longer subject to state tax audits on its Form 104 state tax return by taxing authorities for years ending prior to December 31, 2018. 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.
(4) Deferred Revenue
Deferred revenue consisted of the following as of December 31, 2022, 2021 an
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 end of 2022 is not explicitly listed in the provided excerpts. However, the document does provide a table that shows changes in deferred revenue for 2022.
The table includes the deferred revenue at the beginning of the year ($94,350), revenue recognized that was included in deferred revenue at the beginning of the year ($94,350), and the increase in deferred revenue due to cash received during the year. The table does not explicitly state the ending deferred revenue balance for 2022.
A prospective franchisee should ask Bor Restoration for clarification on the deferred revenue balance at the end of 2022 to gain a clearer understanding of the company's financial position and how deferred revenue is managed.