Accumulated other comprehensive income (Tables)

3 Months Ended

Oct. 31, 2013

Accumulated other comprehensive income [Abstract]

Schedule of accumulated other comprehensive income

A summary of the changes in accumulated other comprehensive income for the three months ended October 31, 2013 and 2012 is as follows:

	Three Months Ended
	October 31
	2013			2012
	(Unaudited)			(Unaudited)
Beginning balance, net of tax effect	$	183,633		$	133,477
Other comprehensive income, net of tax effect:
Unrealized gains on available-for-sale securities		20,269			22,396
Tax effect		(9,000	)		(9,000	)
Unrealized gains on available-for-sale securities,
net of tax effect		11,269			13,396
Amounts reclassified from accumulated other
comprehensive income, net of tax effect:
Unrealized gains on available-for-sale securities reclassified		(155,187	)		-
Tax effect		69,000			-
Amounts reclassified, net of tax effect		(86,187	)		-
Ending balance, net of tax effect	$	108,715		$	146,873