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Deferred Revenue

12 Months Ended

Dec. 31, 2017

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue

NOTE 12 – DEFERRED REVENUE

At December 31, 2017 and 2016, deferred revenue consists of the following:

		December 31, 2017				December 31, 2016
Customer deposits		$	18,179			$	46,441
Franchise fees			1,223,608				1,256,526
Unearned vendor rebates			150,073				-
		$	1,391,860			$	1,302,967

During the year ended December 31, 2017, the Company entered into a new agreement with a vendor whereby the vendor advanced the Company approximately $200,000 against future rebates that the Company will earn from the vendor.

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-URI http://asc.fasb.org/topic&trid=2122369

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- References

No definition available.

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