What was the income taxes receivable for Fast Fix Jewelry And Watch Repairs in 2023?
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 income taxes receivable for 2023 was $17,230. This figure is part of the company's current assets, which totaled $1,872,406 for the year.
Income taxes receivable represents the amount of income taxes that Fast Fix Jewelry And Watch Repairs expects to receive from tax authorities. This can occur when the company has overpaid its estimated taxes or is entitled to a refund for some other reason. It is considered a current asset because it is expected to be converted into cash within one year.
For a prospective franchisee, understanding the income taxes receivable can provide insights into the company's financial management and tax planning strategies. A significant income tax receivable might indicate effective tax management or could be related to specific tax credits or incentives that Fast Fix Jewelry And Watch Repairs has utilized. Reviewing these figures in the context of overall financial health is advisable for potential franchisees.