DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), JUNE 30, 1996 AND DECEMBER 31, 1995
June 30, December 31,
1996 1995
ASSETS
CASH AND CASH EQUIVALENTS $1,312,763 $1,132,783
PROPERTY 8,527,808 8,684,418
OTHER ASSETS 72,944 72,944
TOTAL $9,913,515 $9,890,145
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,880,785 $1,734,832
PARTNERS' EQUITY:
General Partners (61,700) (60,475)
Limited Partners 8,094,430 8,215,788
Total partners' equity 8,032,730 8,155,313
TOTAL $9,913,515 $9,890,145
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995
June 30, June 30,
1996 1995
REVENUES:
Rental Income $662,523 $622,332
Interest 11,741 7,528
Total revenue 674,264 629,860
EXPENSES:
Operating Expenses 338,399 354,050
General and administrative 50,527 55,684
Total expenses 388,926 409,734
NET INCOME $285,338 $220,126
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $282,485 $217,925
General partners 2,853 2,201
TOTAL $285,338 $220,126
NET INCOME PER
LIMITED PARTNERSHIP UNIT $8.89 $6.86
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements(unaudited).
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STATEMENTS OF INCOME (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995
June 30, June 30,
1996 1995
REVENUES:
Rental Income $1,298,284 $1,198,268
Interest 20,155 14,155
Total revenues 1,318,439 1,212,423
EXPENSES:
Operating Expenses 680,939 681,099
General and administrative 118,003 115,660
Total expenses 798,942 796,759
NET INCOME 519,497 415,664
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners 514,302 411,507
General partners 5,195 4,157
TOTAL 519,497 415,664
NET INCOME PER LIMITED
PARTNERSHIP UNIT $16.18 $12.95
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 JUNE 30, 1996 AND 1995
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1994 ($57,314) $8,528,667 $8,471,353
NET INCOME 4,157 411,507 415,664
DISTRIBUTIONS (6,420) (635,660) (642,080)
EQUITY AT JUNE 30, 1995 ($59,577) $8,304,514 $8,244,937
EQUITY AT DECEMBER 31, 1995 ($60,475) $8,215,788 $8,155,313
NET INCOME 5,195 514,302 519,497
DISTRIBUTIONS (6,420) (635,660) (642,080)
EQUITY AT JUNE 30, 1996 ($61,700) $8,094,430 $8,032,730
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995
June 30, June 30,
1996 1995
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 519,497 $ 415,664
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 269,264 269,264
Changes in assets and liabilities:
Decrease in other assets 0 263,312
Increase in liabilities 145,953 36,600
Net cash provided by operating
activities 934,714 984,840
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (112,654) (6,943)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (642,080) (642,080)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 179,980 335,817
CASH AND CASH EQUIVALENTS:
At beginning of period 1,132,783 590,983
At end of period $1,312,763 $ 926,800
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 June 30, 1996, and for
the periods ended June 30, 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 June 30, 1996, the total cost
and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,795,973
Furniture and Equipment 2,799
Total 12,888,654
Less: Accumulated Depreciation ( 4,360,846)
Property - Net $ 8,527,808
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.