What were Cinch I.T.'s accrued liabilities in 2021?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
| CINCH FRANCE | HISE, LLC | |||
|---|---|---|---|---|
| BALANCE S | ||||
| DECEMBER 31, 20 | 22 AND 2021 | |||
| $15-50-50MS(7M-4-5 | 40.000 | |||
| ASSET | S | 2022 | 2021 | |
| CURRENT ASSETS | - | |||
| Cash | S | 189.038 | S | 101,234 |
| Receivables: | ||||
| Trade | 54,720 | 112,709 | ||
| Employee Retention Credit | 7 | 32.487 | ||
| Prepaid expenses | 14.494 | 14,697 | ||
| TOTAL CURRENT ASSETS | S _ | 258,252 | S | 261.127 |
| LIABILITIES AND MEMBER | R'S EQUITY (DEFIC | Tr) | ||
| CURRENT LIABILITIES | 21194 | 16 | 43.594 | |
| Payables - trade | S- | 5,155 | 5 | 26,973 |
| Accrued liabilities | 16,534 | 19,451 | ||
| Current portion of deferred revenue | 55,500 | 102,200 | ||
| Due to related parties | 150 |
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the company's accrued liabilities in 2021 were $19,451. Accrued liabilities represent expenses that Cinch I.T. has incurred but not yet paid as of the end of the fiscal year.
For a prospective franchisee, understanding the franchisor's financial statements is crucial. Accrued liabilities can include items such as unpaid wages, taxes, or interest. Monitoring these liabilities can provide insights into the company's short-term financial obligations and its ability to manage its expenses.
A high level of accrued liabilities relative to assets could indicate potential financial strain, while a lower level might suggest more efficient financial management. Reviewing these figures over several years, as presented in the balance sheets, can help potential franchisees identify trends and assess the financial stability of Cinch I.T.