What was the total amount of trade receivables for Cinch I.T. in the 'S' column?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
| CINCH FRANCHISE LLX BALANCE SHEETS | ||||
|---|---|---|---|---|
| DECEMBER 31, 2023 AND 2 | 022 | |||
| ASSETS | ||||
| CHIRDCHET ADDITIO | 2023 | 2022 | ||
| CURRENT ASSETS Cash | S | 220,489 | S | 189,038 |
| Receivables - trade | 3 | 65,722 | 3 | 54,720 |
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the trade receivables are listed under the assets section of the balance sheets. For December 31, 2023, the trade receivables were $65,722, and for December 31, 2022, the trade receivables were $54,720. These figures represent the amounts owed to Cinch I.T. by its customers for services rendered.
Trade receivables are a crucial indicator of a company's financial health, reflecting its ability to collect revenue. Monitoring these receivables is essential for managing cash flow and assessing the creditworthiness of customers. Franchisees should pay close attention to the policies Cinch I.T. has in place for managing and collecting these receivables.
The balance sheets provide a snapshot of Cinch I.T.'s financial position at a specific point in time, detailing its assets, liabilities, and equity. Reviewing these figures helps potential franchisees understand the financial stability and operational efficiency of Cinch I.T.
Prospective franchisees should analyze these figures in conjunction with other financial statements and disclosures in the FDD to gain a comprehensive understanding of Cinch I.T.'s financial performance and risk factors.