What was the 'Other' current asset amount for Fast Fix Jewelry And Watch Repairs in 2022?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
e and timing of the audit, significant audit findings, and certain internal control—related matters that we identified during the audit.
Greenville, South Carolina
April 29, 2024
| 2023 2022 | ||
|---|---|---|
| Assets | 1 | |
| Current assets | ||
| Cash and cash equivalents | $ 832,84 | 7 $ 1,102,616 |
| Accounts receivable, net | 475,65 | 481,149 |
| Franchise notes receivable - current portion | 8,58 | 33 22,443 |
| Advances receivable, net - current portion | 170,59 | 169,189 |
| In |
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 'Prepaid expenses and other current assets' totaled $85,450 in 2022. This figure is part of the company's consolidated balance sheet, reflecting its financial position at the end of that year.
For a prospective franchisee, understanding the composition of current assets is crucial. 'Prepaid expenses and other current assets' typically include items like insurance premiums paid in advance, office supplies, and other short-term assets that will be converted into cash within a year. Knowing the value of these assets helps in assessing the company's short-term financial health and liquidity.
It's important to note that this figure represents the consolidated financial position of Jewelry Repair Enterprises, Inc., which includes its subsidiaries. Franchisees should review the complete financial statements and notes to gain a comprehensive understanding of the company's financial performance and stability. Consulting with a financial advisor is recommended to interpret these figures in the context of their investment decision.