DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), MARCH 31, 1995 AND DECEMBER 31, 1994
March 31 December 31
1995 1994
ASSETS
CASH AND CASH EQUIVALENTS $ 896,896 $ 590,983
PROPERTY 8,988,915 9,123,547
OTHER ASSETS 93,393 324,827
TOTAL $9,979,204 $10,039,357
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,633,353 $1,568,004
PARTNERS' EQUITY:
General Partners (58,569) (57,314)
Limited Partners 8,404,420 8,528,667
Total partners' equity 8,345,851 8,471,353
TOTAL $9,979,204 $10,039,357
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994
March 31 March 31
1995 1994
REVENUES:
Rental Income $575,936 $540,965
Interest 6,627 1,050
Total revenue 582,563 542,015
EXPENSES:
Operating Expenses 327,049 329,337
General and administrative 59,976 54,098
Total expenses 387,025 383,435
NET INCOME $195,538 $158,580
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $193,583 $156,994
General partners 1,955 1,586
TOTAL $195,538 $158,580
NET INCOME PER
LIMITED PARTNERSHIP UNIT $6.09 $4.94
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, 1995 AND 1994
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1993 ($54,311) $8,825,977 $8,771,666
NET INCOME 1,586 156,994 158,580
DISTRIBUTIONS (2,408) (238,372) (240,780)
"EQUITY AT MARCH 31, 1994 ($55,133) $8,744,599 $8,689,466
"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
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994
March 31 March 31
1995 1994
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 195,538 $ 158,580
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 134,632 134,632
Changes in assets and liabilities:
Decrease(Increase) in other assets 231,434 (48,678)
Increase in liabilities 65,349 63,577
Net cash provided by operating
activities 626,953 308,111
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (321,040) (240,780)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 305,913 67,331
CASH AND CASH EQUIVALENTS:
At beginning of period 590,983 413,041
At end of period $ 896,896 $ 480,372
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, 1995, and for
the periods ended March 31, 1995 and 1994 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, 1995, the total cost
and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,589,559
Furniture and Equipment 2,799
Total 12,682,240
Less: Accumulated Depreciation ( 3,693,325)
Property - Net $ 8,988,915
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.