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DEFERRED CHARGES | 12 Months Ended
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Jul. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract] |
DEFERRED CHARGES | 9. DEFERRED CHARGES: Deferred charges for the fiscal years ended July 31, 2024 and 2023 consist of the following:
Schedule of deferred charges |  | July 31, 2024 |  |  | July 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Leasing brokerage commissions |  | $ | 6,350,308 |  |  | $ | 2,794,954 |  |  | $ | 5,471,610 |  |  | $ | 2,253,786 |
Professional fees for leasing |  |  | 81,826 |  |  |  | 56,595 |  |  |  | 127,810 |  |  |  | 94,934 |
Total |  | $ | 6,432,134 |  |  | $ | 2,851,549 |  |  | $ | 5,599,420 |  |  | $ | 2,348,720 |
The aggregate amortization expense for the periods ended July 31, 2024 and July 31, 2023 were $502,829, and $452,781, respectively. The weighted average life of current year additions to deferred charges was approximately nine years. The estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:
Schedule of estimated aggregate amortization expense |  |  |  |
Year Ended July 31 |  | Amortization |
2025 |  | $ | 467,022 |
2026 |  | $ | 426,170 |
2027 |  | $ | 366,528 |
2028 |  | $ | 358,132 |
2029 |  | $ | 322,907 |

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- Definition The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 430 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/430/tableOfContent + Details
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- References No definition available. + Details
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