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Property and Equipment - at cost | 9 Months Ended
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Apr. 30, 2015
Property and Equipment - at cost: [Abstract] |
Property and Equipment - at cost: |
6. | Property and Equipment – at cost:
|  | April 30 2015 |  | July 31 2014
Property: |  |  |  |
Buildings and improvements |  | $ | 75,797,083 |  | $ | 74,547,177
Improvements to leased property |  |  | 1,478,012 |  |  | 1,478,012
Land |  |  | 6,067,805 |  |  | 6,067,805
Construction in progress |  |  | 103,064 |  |  | –
|  |  | 83,445,964 |  |  | 82,092,994
Less accumulated depreciation |  |  | 36,008,751 |  |  | 34,773,376
Property - net |  |  | 47,437,213 |  |  | 47,319,618
Fixtures and equipment and other: |  |  |  |  |  |
Fixtures and equipment |  |  | 144,545 |  |  | 144,545
Other fixed assets |  |  | 238,906 |  |  | 238,906
|  |  | 383,451 |  |  | 383,451
Less accumulated depreciation |  |  | 278,271 |  |  | 244,071
Fixtures and equipment and other - net |  |  | 105,180 |  |  | 139,380
Property and equipment - net |  | $ | 47,542,393 |  | $ | 47,458,998
Construction in progress includes:
|  | April 30 2015 |  | July 31 2014
Building improvements at 9 Bond Street in Brooklyn, NY |  | $ | 82,635 |  | $ | –
Building improvements at Jowein building in Brooklyn, NY |  |  | 20,429 |  |  | –
|  | $ | 103,064 |  | $ | –

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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