INVESTMENT IN HOTEL, NET

3 Months Ended

Sep. 30, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 2 – INVESTMENT IN HOTEL, NET

Investment in hotel consisted of the following as of:

			Accumulated		Net Book
September 30, 2013	Cost		Depreciation		Value

Land	$	2,738,000	$	-	$	2,738,000
Furniture and equipment		22,359,000		(19,651,000)		2,708,000
Building and improvements		59,306,000		(23,170,000)		36,136,000
	$	84,403,000	$	(42,821,000)	$	41,582,000

			Accumulated		Net Book
June 30, 2013	Cost		Depreciation		Value

Land	$	2,738,000	$	-	$	2,738,000
Furniture and equipment		22,271,000		(19,310,000)		2,961,000
Building and improvements		58,875,000		(22,846,000)		36,029,000
	$	83,884,000	$	(42,156,000)	$	41,728,000

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details