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 · 9. DEFERRED CHARGES:
- DEFERRED CHARGES:
Deferred charges for the fiscal years ended July 31, 2024 and 2023 consist of the following:
| Schedule of deferred charges | July 31, 2024 | July 31, 2023 | ||
|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |
| Leasing brokerage commissions | $6,350,308 | $2,794,954 | $5,471,610 | $2,253,786 |
| Professional fees for leasing | 81,826 | 56,595 | 127,810 | 94,934 |
| Total | $6,432,134 | $2,851,549 | $5,599,420 | $2,348,720 |
The aggregate amortization expense for the periods ended July 31, 2024 and July 31, 2023 were $502,829, and $452,781, respectively.
The weighted average life of current year additions to deferred charges was approximately nine years.
The estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:
| Year Ended July 31 | Amortization |
|---|---|
| 2025 | $467,022 |
| 2026 | $426,170 |
| 2027 | $366,528 |
| 2028 | $358,132 |
| 2029 | $322,907 |
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