| CONTRACT LIABILITIES |
NOTE 11 — CONTRACT LIABILITIES
For service contracts where
the performance obligation is not completed, contract liabilities were recorded for any payments received in advance of the performance
obligation. The payments received in advance will not be refunded and will be amortized in future when met performance obligations.
As of April 30, 2025 and
October 31, 2024, contract liabilities is comprised of the following:
| | |
April 30,
2025 | | |
October 31,
2024 | |
| Unearned franchise fee | |
| 118,277 | | |
| 309,315 | |
| Customer advance for beauty products | |
| — | | |
| 16,609 | |
| Total | |
| 118,277 | | |
| 325,924 | |
The unearned franchise fee
of $118,277 is to be recognized to revenue within one year from April 30, 2025. As of April 30, 2025 and
October 31, 2024, unearned franchise fee comprised of the following:
| | |
April 30,
2025 | | |
October 31,
2024 | |
| Li Yi | |
| 38 | | |
| 7,005 | |
| Gao Wenjing | |
| — | | |
| 31,563 | |
| Yan Tianxiang | |
| 1,507 | | |
| — | |
| Wu Yinghan | |
| 32,753 | | |
| — | |
| Liu Yuping | |
| 36,462 | | |
| — | |
| Wang Shimei | |
| 2,073 | | |
| — | |
| Xu Yong | |
| 754 | | |
| — | |
| Nan Xifeng | |
| 829 | | |
| — | |
| Song Mingfang | |
| 6,971 | | |
| — | |
| Wang Zhiya | |
| — | | |
| 23,287 | |
| Yu Yang | |
| — | | |
| — | |
| Wang Limin | |
| — | | |
| 12,510 | |
| Li Jie | |
| — | | |
| 6,390 | |
| Sheng Xidong | |
| — | | |
| 6,890 | |
| Zhou Guixiang | |
| — | | |
| 13,626 | |
| Wang Jia | |
| 415 | | |
| — | |
| Wang Xuefeng | |
| 528 | | |
| 40,801 | |
| Wang Xiaohui | |
| 641 | | |
| — | |
| Ge Xiaoqing | |
| — | | |
| 6,967 | |
| Li Ruonan | |
| — | | |
| 2,309 | |
| Meng Hao | |
| — | | |
| 7,313 | |
| Chen Yu | |
| — | | |
| 500 | |
| Wang Hongli | |
| — | | |
| 2,848 | |
| Zhang Ying | |
| — | | |
| 2,964 | |
| Liu Zonghui | |
| — | | |
| 16,359 | |
| Xiao Yang | |
| 1,507 | | |
| — | |
| Sun Zhongyao | |
| 1,055 | | |
| — | |
| Shen Yue | |
| 1,206 | | |
| — | |
| Fan Lingfu | |
| 1,130 | | |
| — | |
| Sun Xuqiang | |
| 1,130 | | |
| — | |
| Zhao Zhe | |
| 1,130 | | |
| — | |
| Zheng Tinghai | |
| 5,162 | | |
| — | |
| Liu Jie | |
| 6,971 | | |
| 41,955 | |
| Zhu Hongjun | |
| 10,551 | | |
| 45,612 | |
| Zhou Qianqian | |
| 5,464 | | |
| 40,416 | |
| Total | |
| 118,277 | | |
| 309,315 | |
|