Accumulated Other Comprehensive Income

9 Months Ended

Apr. 30, 2015

Accumulated Other Comprehensive Income: [Abstract]

Accumulated Other Comprehensive Income:

12.	Accumulated Other Comprehensive Income:
	The only component of accumulated other comprehensive income is unrealized gains on available-for-sale securities.
	A summary of the changes in accumulated other comprehensive income for the three and nine months ended April 30, 2015 and 2014 is as follows:

	Three Months Ended						Nine Months Ended
	April 30						April 30
	2015			2014			2015			2014
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Beginning balance, net of tax effect	$	158,751		$	92,427		$	129,412		$	183,633
Other comprehensive income, net of tax effect:
Unrealized gains on available-for-sale
securities		31,369			55,468			83,708			44,449
Tax effect		(14,000	)		(25,000	)		(37,000	)		(19,000	)
Unrealized gains on available-for-sale
securities, net of tax effect		17,369			30,468			46,708			25,449
Amounts reclassified from accumulated other
comprehensive income, net of tax effect:
Unrealized (losses) on available-for-sale
securities reclassified		-			-			-			(155,187	)
Tax effect		-			-			-			69,000
Amount reclassified, net of tax effect		-			-			-			(86,187	)
Ending balance, net of tax effect	$	176,120		$	122,895		$	176,120		$	122,895

A summary of the line items in the Condensed Consolidated Statement of Operations and Retained Earnings affected by the amounts reclassified from accumulated other comprehensive income is as follows:

Details about accumulated other	Affected line item in the statement
comprehensive income components	where net income is presented
----------------------------------------------------	---------------------------------------------
Other comprehensive income reclassified	Investment income
Tax effect	Income taxes provided