MAYS J W INC
For the period ended Jul 31, 2024. Filed Oct 24, 2024.
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FY2024 · Filed Oct 24, 2024
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EX-13 · 7. CASH FLOW INFORMATION:
- CASH FLOW INFORMATION:
For purposes of reporting cash flows, the Company considers cash equivalents to consist of short-term highly liquid investments with maturities of three months or less, which are readily convertible into cash. The following is a reconciliation of the Company’s cash and cash equivalents and restricted cash to the total presented on the consolidated statements of cash flows:
| 2024 | 2023 | |
|---|---|---|
| Cash and cash equivalents | $1,243,977 | $1,215,921 |
| Restricted cash, tenant security deposits | 938,580 | 898,791 |
| Restricted cash, escrow | 71,784 | 71,763 |
| Restricted cash, other | 31,260 | 31,260 |
| $2,285,601 | $2,217,735 |
Amounts in restricted cash primarily consist of cash held in bank accounts for tenant security deposits, amounts set aside in accordance with certain loan agreements, and security deposits with landlords and utility companies.
Supplemental disclosure:
| July 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flow Information | ||
| Interest paid, net of capitalized interest of $85,610 (2024), and $47,472 (2023) | $141,975 | $234,596 |
| Income tax (refunded) | — | — |
| Non-cash information | ||
| Recognition of operating lease right-of-use assets | — | $1,201,952 |
| Recognition of operating lease liabilities | — | 1,201,952 |
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