What was the accrued expense for real estate taxes for Monicals Pizza as of December 31, 2023?
Monicals_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
ISLAND
| Accrued expenses and other current liabilities consist of the following as of December 31: | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Payroll and vacation | $ 2,186,026 $ 1,784,330 | ||
| Real estate taxes | 513,162 | 487,485 | |
| Profit sharing | 163,267 | 97,130 | |
| Sales and use taxes | 146,567 | 115,949 | |
| Payroll taxes | 144,924 | 114,583 | |
| State replacement tax | 71,755 | 113,075 | |
| Percentage rent | 55,711 | 61,534 | |
| Other | 57,501 | 54,546 | |
| Totals | $ 3,338,913 | $ 2,828,632 |
FOR THE COMMONWEALTH OF VIRGINIA
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Source: Item 23 — RECEIPTS (FDD pages 46–257)
What This Means (2025 FDD)
According to Monicals Pizza's 2025 Franchise Disclosure Document, the accrued expense for real estate taxes as of December 31, 2023, was $513,162. This figure represents the amount of real estate taxes that Monicals Pizza had incurred but not yet paid as of that date. Accrued expenses are liabilities that have accumulated and are recognized on the company's balance sheet.
For a prospective Monicals Pizza franchisee, understanding accrued expenses like real estate taxes is crucial for assessing the financial health and stability of the company. It provides insight into the company's ability to manage its financial obligations and can be an indicator of its overall financial performance. Franchisees can use this information to evaluate the franchisor's financial practices and make informed decisions about investing in the franchise.
It's important to note that this figure reflects the accrued real estate taxes for the entire Monicals Pizza Corporation, including both company-owned and franchised locations. Franchisees should consider this in the context of other financial data provided in the FDD to gain a comprehensive understanding of the company's financial position. Reviewing these figures over several years, as presented in the table, can also reveal trends and patterns in Monicals Pizza's financial management.