National American University Holdings, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - October 5, 2012

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10-Q - FORM 10-Q - National American University Holdings, Inc.d379549d10q.htm
v2.4.0.6
Condominium Project
 3 Months Ended
Aug. 31, 2012
Condominium Project [Abstract]  
CONDOMINIUM PROJECT
7. CONDOMINIUM PROJECT

During 2009, the Company completed construction on a new building containing 24 condominium units to be sold to the general public. These condominium units are accounted for within condominium inventory 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 August 31, 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 condensed 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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