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Accumulated Other Comprehensive Income
3 Months Ended
Oct. 31, 2014
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 (losses) on available-for-sale securities.
 
  A summary of the changes in accumulated other comprehensive income for the three months ended October 31, 2014 and 2013 is as follows:

      Three Months Ended
      October 31
      2014   2013
      (Unaudited)   (Unaudited)
  Beginning balance, net of tax effect   $ 129,412     $ 183,633  
   
  Other comprehensive income, net of tax effect:                
                Unrealized gains on available-for-sale                
                       securities     75,162       20,269  
                Tax effect     (33,000 )     (9,000 )
                Unrealized gains on available-for-sale                
                       securities, net of tax effect     42,162       11,269  
   
  Amounts reclassified from accumulated other                
         comprehensive income, net of tax effect:                
                Unrealized gains (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   $ 171,574     $ 108,715  


 

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