What was the total amount of other taxes for Burros Fries for the 1 month ended October 31, 2024?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
1,681.86 |
Burros & Fries Franchise Inc Income Statement
| 1 Month Ended October 31, 2024 | 10 Months Ended October 31, 2024 | ||||
|---|---|---|---|---|---|
| Sales | |||||
| Franchise Fees | $ | 25,640.58 | $ | 77,716.98 | |
| Sales | 0.00 | 186,572.01 | |||
| Sales Returns and Allowances | 0.00 | (30,000.00) | |||
| Total Sales | 25,640.58 | 234,288.99 | |||
| Gross Profit | 25,640.58 | 234,288.99 | |||
| Operating Expenses | |||||
| Advertising Expense | 2,040.57 | 4,121.71 | |||
| Accounting Expense | 391.50 | 6,327.55 | |||
| Office Expense | 0.00 | 8,540.14 | |||
| Other Taxes | 12,715.00 | 12,715.00 | |||
| Rent or Lease Expense | 0.00 | 2,000.00 | |||
| Utilities Expense | 680.51 | 4,000.27 | |||
| Total Operating Expenses | 15,827.58 | 37,704.67 | |||
| Operating Income (Loss) | 9,813.00 | 196,584.32 | |||
| Other Income (Expenses) | |||||
| Interest Expense | 0.00 | (168.47) | |||
| Total Other Income (Expenses) | 0.00 | (168.47) | |||
| Net Income (Loss) Before T |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
According to Burros Fries' 2024 Franchise Disclosure Document, the total amount of other taxes for the 1 month ended October 31, 2024, was $12,715.00. This figure is part of the operating expenses for that month.
For a prospective franchisee, this means that $12,715.00 was allocated to cover other taxes during this specific period. It is important to note that this amount may not be representative of other months, as tax liabilities can vary due to factors such as sales volume, local tax laws, and specific tax events.
Understanding the components of operating expenses, including other taxes, is crucial for franchisees to accurately forecast their potential profitability and manage their finances effectively. Reviewing past financial statements and understanding the nature of these other taxes can help in predicting future tax obligations and planning accordingly.