What was the value of Kitchen Solvers' other receivable as of December 31, 2022?
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 value of the company's other receivable as of December 31, 2022, was $3,260. This figure is part of the company's balance sheet, reflecting the amount of money owed to Kitchen Solvers from sources other than accounts receivable, advances receivable, or contract assets.
For a prospective franchisee, understanding the 'other receivable' balance can provide insights into the financial health and operational efficiency of Kitchen Solvers. A low and stable 'other receivable' balance might indicate efficient management of miscellaneous income streams, whereas a high or fluctuating balance could suggest potential issues in collecting these receivables.
It's important to note that 'other receivable' typically includes items not classified under standard accounts receivable, such as employee advances or refunds due. Franchisees should inquire about the nature of these receivables to assess any potential risks or opportunities. Reviewing these figures in the context of Kitchen Solvers' overall financial statements helps provide a comprehensive view of the company's financial standing.