DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), MARCH 31, 1996 AND DECEMBER 31, 1995
March 31, December 31,
1996 1995
ASSETS
CASH AND CASH EQUIVALENTS $1,174,918 $1,132,783
PROPERTY 8,604,453 8,684,418
OTHER ASSETS 120,528 72,944
TOTAL $9,899,899 $9,890,145
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,831,467 $1,734,832
PARTNERS' EQUITY:
General Partners (61,343) (60,475)
Limited Partners 8,129,775 8,215,788
Total partners' equity 8,068,432 8,155,313
TOTAL $9,899,899 $9,890,145
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995
March 31, March 31,
1996 1995
REVENUES:
Rental Income $635,761 $575,936
Interest 8,414 6,627
Total revenue 644,175 582,563
EXPENSES:
Operating Expenses 342,540 327,049
General and administrative 67,476 59,976
Total expenses 410,016 387,025
NET INCOME $234,159 $195,538
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $231,817 $193,583
General partners 2,342 1,955
TOTAL $234,159 $195,538
NET INCOME PER
LIMITED PARTNERSHIP UNIT $7.29 $6.09
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1994 ($57,314) $8,528,667 $8,471,353
NET INCOME 1,955 193,583 195,538
DISTRIBUTIONS (3,210) (317,830) (321,040)
EQUITY AT MARCH 31, 1995 ($58,569) $8,404,420 $8,345,851
EQUITY AT DECEMBER 31, 1995 ($60,475) $8,215,788 $8,155,313
NET INCOME 2,342 231,817 234,159
DISTRIBUTIONS (3,210) (317,830) (321,040)
EQUITY AT MARCH 31, 1996 ($61,343) $8,129,775 $8,068,432
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995
March 31, March 31,
1996 1995
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 234,159 $ 195,538
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 134,632 134,632
Changes in assets and liabilities:
Increase(Decrease) in other assets (47,584) 231,434
Increase in liabilities 96,635 65,349
Net cash provided by operating
activities 417,842 626,953
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (54,667) 0
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (321,040) (321,040)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 42,135 305,913
CASH AND CASH EQUIVALENTS:
At beginning of period 1,132,783 590,983
At end of period $1,174,918 $ 896,896
See accompanying notes to financial statements(unaudited).
DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund X (the "Partnership") has three general partners
(DSI Properties, Inc., Robert J. Conway and Joseph W. Conway) and
limited partners owning 31,783 limited partnership units.
The accompanying financial information as of March 31, 1996, and for
the periods ended March 31, 1996 and 1995 is unaudited. Such financial
information includes all adjustments which are considered necessary by
the Partnership's management for a fair presentation of the results for
the periods indicated.
2. PROPERTY
The Partnership owns five mini-storage facilities. Two facilities are
located in Warren, Michigan; one facility is located in Troy, Michigan;
one facility is located in Crestwood, Illinois; and one facility is
located in Forestville, Maryland. As of March 31, 1996, the total cost
and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,737,987
Furniture and Equipment 2,799
Total 12,830,668
Less: Accumulated Depreciation ( 4,226,215)
Property - Net $ 8,604,453
3. NET INCOME PER LIMITED PARTNERSHIP UNIT
Net income per limited partnership unit is calculated by dividing the
net income allocated to the limited partners by the number of limited
partnership units outstanding during the period.