An annual report of Crestwood Industries states, The company and its subsidiaries have long term leases expiring
Question:
An annual report of Crestwood Industries states, “The company and its subsidiaries have long term leases expiring on various dates after December 31, 2010. Amounts payable under such commitments, without reduction for related rental income are expected to average approximately $5,711,000 annually for the next 3 years. Related rental income from certain subleases to others is estimated to average $3,094,000 annually for the next 3 years.” What information is provided by this note?
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The reader should recognize that the firm has an obligation for lea...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
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