What was the amount of advances receivable for Kitchen Solvers in 2023?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
al statements as a whole.
Hancock & Robinson CPAs
La Crosse, Wisconsin
March 7, 2025
Balance Sheets
December 31, 2024, 2023, and 2022
| Assets | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current assets: | |||
| Cash | $ 409,936 | $ 192,541 | $ 60,708 |
| Accounts receivable | 63,672 | 138,673 | 140,562 |
| Accounts receivable - related party | 174,152 | - | - |
| Contract assets - Current | 138,404 | 118,404 | 98,129 |
| Advances receivable | - | - | 74,472 |
| Other receivable | - | - |
Source: Item 21 — Financial Statements (FDD pages 48–49)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the advances receivable in 2023 was $0. This can be found in the balance sheet detailing the assets for the fiscal years 2022, 2023, and 2024. Advances receivable is listed as a current asset.
It is important to note that while there were no advances receivable listed as an asset in 2023, there was $74,472 listed as advances receivable in 2022.
Prospective franchisees should understand how Kitchen Solvers manages its assets and liabilities, as this can provide insight into the company's financial stability and operational efficiency. Reviewing the balance sheets over several years can reveal trends and potential areas of concern or strength.