What was the change in deferred revenue for Fast Fix Jewelry And Watch Repairs in 2023?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| | (1,251,279) | | (344,949) | | Net income | | | | | | | 357,356 | | 357,356 | | Balance, December 31, 2024 | 978,781 | $ | 100 | $ | 906,230 | $ | (893,923) | $ | 12,407 |
| 2024 | 2023 | |||
|---|---|---|---|---|
| Operating activities | ||||
| Net income | $ | 357,356 | $ | 279,052 |
| Adjustments to reconcile net income to | ||||
| net cash provided by operating activities: | ||||
| Depreciation and amortization | 693,840 | 695,347 | ||
| Amortization of debt issuance costs | 77,040 | 77,040 | ||
| Deferred income taxes | 22,787 | 63,958 | ||
| Provision for credit losses | 46,557 | |||
| Paid-in-Kind (PIK) interest | 43,543 | 44,984 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 52,988 | 5,495 | ||
| Franchise and advances receivable, net | 103,004 | - | ||
| Inventory | (28,005) | 325,631 | ||
| Prepaid expenses and other current assets | 33,280 | 30,120 | ||
| Deposits | 14,886 | 3,063 | ||
| Operating right-of-use assets and lease liabilities, net | 13,131 | 38,772 | ||
| Accounts payable | (127,596) | 86,698 | ||
| Accrued |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs's 2025 Franchise Disclosure Document, the deferred revenue decreased by $38,193 in 2023. This figure is part of the changes in operating assets and liabilities listed in the consolidated statements of cash flow.
Deferred revenue typically represents payments Fast Fix Jewelry And Watch Repairs has received for goods or services that have not yet been delivered or performed. A decrease in deferred revenue could suggest that the company recognized more revenue from previous sales or received less in advance payments during the year.
For a prospective franchisee, this information provides insight into the company's revenue recognition patterns and cash flow management. Monitoring changes in deferred revenue can help assess the stability and predictability of Fast Fix Jewelry And Watch Repairs's financial performance. It is important to consider these figures in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial health.