v3.22.2.2
INCOME TAXES (Tables)
3 Months Ended
Oct. 31, 2022
INCOME TAXES  
Schedule of income taxes on continuing operations

 

 

 October 31,

2021

 

 

 October 31,

2022  

 

Currently payable

 

$-0-

 

 

$-0-

 

Deferred

 

 

-0-

 

 

 

-0-

 

Total

 

$-0-

 

 

$-0-

 

Schedule of reconciliation of the effective tax rate with the statutory U.S. income tax

 

 

October 31, 2022

 

 

October 31, 2021

 

 

 

Income

 

 

% of

Pretax

Amount

 

 

Income

 

 

% of

Pretax

Amount

 

Income taxes per statement of operations

 

$-0-

 

 

 

0%

 

$-0-

 

 

 

0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss for financial reporting purposes without tax expense or benefit   

 

 

(3,900)

 

 

(21)

 

 

(4,500)

 

 

(21)

Income taxes at statutory rate 

 

$(3,900)

 

 

(21)%

 

$(4,500)

 

 

(21)%
Schedule of components of and changes in the net deferred taxes

Deferred tax assets:

 

 

 

 

 

 

 

 

October 31,

2022

 

 

 October 31,

2021

 

Net operating loss carryforwards

 

$154,100

 

 

$146,300

 

Compensation and miscellaneous

 

 

6,600

 

 

 

4,800

 

 

 

 

 

 

 

 

 

 

Deferred tax assets

 

 

160,700

 

 

 

151,100

 

Valuation Allowance

 

 

(160,700)

 

 

(151,100)

Net deferred tax assets:

 

$-0-

 

 

$-0-