Where is the Employee Retention Credit included on Cinch I.T.'s balance sheet?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
e substantial doubt about Cinch Franchise, LLC's ability to continue as a going concern for a reasonable period of time.
| 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: |
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the Employee Retention Credit is listed as an asset on the balance sheet. Specifically, it is categorized under "CURRENT ASSETS" as "Employee Retention Credit."
The balance sheet provided in the 2024 FDD shows the value of the Employee Retention Credit for two years, 2022 and 2021. In 2022, the Employee Retention Credit was valued at $7, while in 2021, it was valued at $32,487. This indicates a significant decrease in the credit from 2021 to 2022.
For a prospective Cinch I.T. franchisee, this information is relevant for understanding the company's financial position and how it has changed over time. The Employee Retention Credit can be a valuable asset, but its fluctuating value highlights the importance of understanding the factors that influence the company's financial performance. Reviewing the complete balance sheet and related financial statements will give potential franchisees a better understanding of Cinch I.T.'s financial health.