What was the total amount of Kitchen Solvers' prepaid expenses in 2023?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 | - | - | 3,260 | |||
| Inventory | 28,642 | 14,106 | - | |||
| Prepaid expenses | 2,277 | 2,293 | - | |||
| Total current assets | 817,083 | 466,017 | 377,131 |
Source: Item 23 — Receipts (FDD pages 49–190)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the company's prepaid expenses totaled $2,293 in 2023. Prepaid expenses are payments made in advance for goods or services that will be received in the future. These are considered assets on the balance sheet because they represent future economic benefits for Kitchen Solvers.
For a prospective Kitchen Solvers franchisee, understanding the franchisor's prepaid expenses can offer insights into how Kitchen Solvers manages its finances. Prepaid expenses might include items like insurance premiums, rent, or software licenses paid in advance.
While a relatively small figure compared to other assets, the prepaid expenses still contribute to the overall financial health of Kitchen Solvers. Monitoring these figures over time can reveal trends in the company's operational spending and financial planning.