National American University Holdings, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - April 6, 2012

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v2.4.0.6
Condominium Project
 9 Months Ended
Feb. 29, 2012
Condominium Project [Abstract]  
CONDOMINIUM PROJECT
8. CONDOMINIUM PROJECT

During 2008, the Company broke ground on a new building designed to contain 24 condominium units to be sold to the general public that was completed in 2009. These condominium units are accounted for within condominium inventories within the condensed consolidated balance sheets, and the sales of the condominium units are recorded within condominium sales within the condensed consolidated statements of operations. Nine units have been sold as of February 29, 2012.

 

In addition, six units of an existing 48-unit apartment building have been sold as condominiums, with the remaining units available for sale or lease. These condominium units are accounted for within net property and equipment within the consolidated balance sheets, and the sales of the condominium units are recorded as a gain on disposition of property within the condensed consolidated statements of operations.

 

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