v3.25.1
INCOME TAXES (Tables)
9 Months Ended
Apr. 30, 2025
INCOME TAXES  
Schedule of income taxes on continuing operations

 

 

April 30, 2025

 

 

April 30, 2024

 

 

 

 

 

 

 

 

Currently payable

 

$(8,900)

 

$(8,500)

Deferred

 

 

8,900

 

 

 

8,500

 

 

 

 

 

 

 

 

 

 

Total

 

$

 -0-

 

 

$

 -0-

 

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

 

 

April 30, 2025

 

 

April 30, 2024

 

 

 

 

 

% of

 

 

 

 

% of

 

 

 

 

 

 

Pretax

 

 

 

 

Pretax

 

 

 

Income

 

 

Amount

 

 

Income

 

 

Amount

 

Income taxes per statement of operations

 

$

-0-

 

 

 

0%

 

$

-0-

 

 

 

0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss for financial reporting purposes without tax expense or benefit

 

 

(8,900)

 

 

(21)

 

 

(8,500)

 

 

(21)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes at statutory rate

 

 

(8,900)

 

 

(21)

 

 

(8,500)

 

 

(21)

Valuation allowance

 

 

8,900)

 

 

21

 

 

 

8,500

 

 

 

21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

 

$

-0-

 

 

 

(21)%

 

$

-0-

 

 

 

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

 

 

April 30, 2025

 

 

July 31, 2024

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$180,400

 

 

$173,400

 

 

 

 

 

 

 

 

 

 

Compensation and miscellaneous

 

 

11,400

 

 

 

10,000

 

 

 

 

 

 

 

 

 

 

Deferred tax assets

 

 

191,800

 

 

 

183,400

 

 

 

 

 

 

 

 

 

 

Valuation Allowance

 

 

(191,800)

 

 

(183,400)

 

 

 

 

 

 

 

 

 

Net deferred tax assets:

 

$

-0-

 

 

$

-0-