Maleki Enterprises Ltd. follows ASPE and states in its financial statement notes: The company and its subsidiaries

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Maleki Enterprises Ltd. follows ASPE and states in its financial statement notes: “The company and its subsidiaries have long-term leases expiring on various dates after December 31, 2023. Amounts payable under such commitments, without reduction for related rental income, are expected to average approximately $6,711,000 annually for the next three years. Related rental income from certain subleases to others is estimated to average $3,094,000 annually for the next three years.” What information is provided by this note?

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Intermediate Accounting Volume 2

ISBN: 9781119740445

13th Canadian Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

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