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Marketable Securities (Tables)

9 Months Ended

Apr. 30, 2015

Marketable Securities: [Abstract]

Schedule of financial assets measured at fair value on recurring basis

Fair value measurements at reporting date using

Description		Total April 30, 2015			Level 1			Level 2			Level 3			Total July 31, 2014			Level 1			Level 2			Level 3
Assets:
Marketable securities -
available-for-sale		$	1,477,072		$	1,477,072		$	–		$	–		$	1,354,213		$	1,354,213		$	–		$	–

Schedule of investments measured at fair value

April 30, 2015		Fair Value			Unfunded Commitments		Redemption Frequency (if currently eligible)		Redemption Notice Period
First Eagle Global CL I		$	280,717		n/a		Daily		None
Parnasus Core Equity Investor CL		$	297,992		n/a		Daily		None
Columbia Flexible Income CL A		$	278,822		n/a		Daily		None
July 31, 2014		Fair Value			Unfunded Commitments		Redemption Frequency (if currently eligible)		Redemption Notice Period
First Eagle Global CL I		$	273,000		n/a		Daily		None
Parnasus Core Equity Investor CL		$	277,571		n/a		Daily		None
Transamerica Tactical Income CL A		$	269,649		n/a		Daily		None

Schedule of classified marketable securities

		April 30, 2015												July 31, 2014
		Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value			Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
Noncurrent:
Available-for-sale:
Mutual funds		$	716,050		$	141,481		$	–		$	857,531		$	691,047		$	129,173		$	–		$	820,220
Equity securities			440,902			178,639			–			619,541			426,754			107,239			–			533,993
		$	1,156,952		$	320,120		$	–		$	1,477,072		$	1,117,801		$	236,412		$	–		$	1,354,213

Schedule of investment income

		Three Months Ended April 30						Nine Months Ended April 30
		2015			2014			2015			2014
Gain on sale of marketable securities		$	6,069		$	–		$	6,455		$	182,846
Interest income			860			529			2,147			1,825
Dividend income			6,596			6,162			37,467			42,409
Total		$	13,525		$	6,691		$	46,069		$	227,080

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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