What was the prepaid expense amount for Fast Fix Jewelry And Watch Repairs in 2022?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
| Operating activities |
|---|
| Changes in operating assets and liabilities: |
| Prepaid expenses and other current assets |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs' 2025 Franchise Disclosure Document, specific figures for prepaid expenses are available for 2023 and 2024, but not 2022. The table within Item 21 shows prepaid expenses and other current assets were $30,120 in 2023 and $33,280 in 2024.
Prospective franchisees should note that prepaid expenses typically include items like insurance premiums, rent, or other services paid in advance. These are initially recorded as assets and then expensed over the period they cover. Monitoring these expenses is important for managing cash flow and understanding the true cost of operations.
Because the 2025 FDD does not include the prepaid expense amount for 2022, a potential franchisee should ask Fast Fix Jewelry And Watch Repairs for this information. Understanding the trend of prepaid expenses over several years can provide a more comprehensive view of the company's financial health and operational efficiency.