Bowl America (BWL.A) 10-K 27 Sep 18 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2018	Sep. 15, 2018	Dec. 29, 2017
Document Information [Line Items]
Entity Registrant Name	BOWL AMERICA INC
Entity Central Index Key	13,573
Trading Symbol	bwla
Current Fiscal Year End Date	--07-01
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 29
Document Type	10-K
Document Period End Date	Jul. 1, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		1,414,517
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,746,454

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jul. 01, 2018	Jul. 02, 2017
CURRENT ASSETS:
Cash and cash equivalents (Note 2)	$ 1,008,433	$ 604,671
Short-term investments (Note 3)	2,157,875	2,951,315
Inventories	490,456	534,741
Prepaid expenses and other	760,561	555,687
Income taxes refundable	192,298
TOTAL CURRENT ASSETS	4,609,623	4,646,414
LAND, BUILDINGS & EQUIPMENT, net (Note 4)	18,698,651	18,860,778
OTHER ASSETS:
Marketable investment securities (Note 3)	4,816,804	5,272,318
Cash surrender value-life insurance	717,733	772,326
Other	66,315	66,315
TOTAL OTHER ASSETS	5,600,852	6,110,959
TOTAL ASSETS	28,909,126	29,618,151
CURRENT LIABILITIES:
Accounts payable	806,487	673,786
Accrued expenses	1,107,226	1,069,668
Dividends payable	877,365	877,365
Income taxes payable		22,543
Other current liabilities	305,236	342,324
TOTAL CURRENT LIABILITIES	3,096,314	2,985,686
LONG-TERM DEFERRED COMPENSATION	17,440	18,413
DEFERRED INCOME TAXES (Note 7)	1,311,697	2,027,659
TOTAL LIABILITIES	4,425,451	5,031,758
COMMITMENTS AND CONTINGENCIES (Note 5)
STOCKHOLDERS' EQUITY (Note 8)
Preferred stock, par value $10 a share: Authorized and unissued, 2,000,000 shares
Additional paid-in capital	7,854,108	7,854,108
Accumulated other comprehensive earnings- Unrealized gain on available-for-sale securities, net of tax	2,102,745	2,481,988
Retained earnings	14,010,725	13,734,200
TOTAL STOCKHOLDERS'EQUITY	24,483,675	24,586,393
TOTAL LIABILITIES AND STOCKHOLDERS'EQUITY	28,909,126	29,618,151
Common Class A [Member]
STOCKHOLDERS' EQUITY (Note 8)
Common Stock	374,645	374,645
Common Class B [Member]
STOCKHOLDERS' EQUITY (Note 8)
Common Stock	$ 141,452	$ 141,452

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jul. 01, 2018	Jul. 02, 2017
Preferred stock, par value (in dollars per share)	$ 10	$ 10
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares outstanding (in shares)	5,160,971	5,160,971
Common Class A [Member]
Common stock, shares issued (in shares)	3,746,454	3,746,454
Common stock, shares outstanding (in shares)	3,746,454	3,746,454
Common Class B [Member]
Common stock, shares issued (in shares)	1,414,517	1,414,517
Common stock, shares outstanding (in shares)	1,414,517	1,414,517

Consolidated Statements of Earn

Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)	12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Operating Revenues:
Operating revenue	$ 24,770,884	$ 23,932,504
Operating Expenses:
Employee compensation and benefits	10,890,744	10,817,766
Depreciation and amortization	946,106	973,849
General and administrative	835,988	802,887
Total Operating Expense	20,751,639	20,670,929
(Loss) gain on disposal of land, buildings and equipment	(3,306)	77,972
Operating Income	4,015,939	3,339,547
Interest, dividend and other income	387,531	412,299
Interest expense		6,296
Earnings before provision for income taxes	4,403,470	3,745,550
Provision for income taxes (Note 7)
Current	1,197,410	1,368,326
Deferred	(579,925)	(73,886)
Total Provision for Income Taxes	617,485	1,294,440
Net Earnings	$ 3,785,985	$ 2,451,110
Earnings per share-basic & diluted (in dollars per share)	$ 0.73	$ 0.48
Weighted average shares outstanding (in shares)	5,160,971	5,160,971
Dividends paid	$ 3,509,460	$ 3,509,460
Net Earnings	3,785,985	2,451,110
Other comprehensive earnings- net of tax
Unrealized (loss) gain on available-for–sale securities net of tax (benefit) of ($135,137) and ($312,797)	(375,723)	(508,218)
Reclassification adjustment for (gain) loss included in Net Income, net of tax (benefit) of $2,167 and ($2,227)	(3,520)	3,619
Comprehensive earnings	$ 3,406,742	$ 1,946,511
Common Class A [Member]
Provision for income taxes (Note 7)
Per share, dividends paid (in dollars per share)	$ 0.68	$ 0.68
Common Class B [Member]
Provision for income taxes (Note 7)
Per share, dividends paid (in dollars per share)	$ 0.68	$ 0.68
Bowling and Other [Member]
Operating Revenues:
Operating revenue	$ 17,486,194	$ 16,887,857
Operating Expenses:
Cost of goods and services sold	5,890,052	5,881,168
Food, Beverage, and Merchandise [Member]
Operating Revenues:
Operating revenue	7,284,690	7,044,647
Operating Expenses:
Cost of goods and services sold	$ 2,188,749	$ 2,195,259

Consolidated Statements of Ear5

Consolidated Statements of Earnings and Comprehensive Earnings (Parentheticals) - USD ($)	12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Unrealized gain (loss) on available-for-sale securities tax	$ (135,137)	$ (312,797)
Reclassification adjustment for gain tax	$ 2,167	$ (2,227)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Jul. 03, 2016	3,746,454,454	1,414,517
Balance at Jul. 03, 2016	$ 374,645	$ 141,452	$ 7,854,108	$ 2,986,587	$ 14,792,550
Cash dividends paid					(2,632,095)
Accrued dividends declared and payable					(877,365)
Change in unrealized gain on available-for-sale securities (shown net of tax)				(508,218)	(508,218)
Reclassification adjustment for loss (gain) included in Net Income, net of tax (benefit)				3,619	3,619
Net Earnings					2,451,110
Balance (in shares) at Jul. 02, 2017	3,746,454	1,414,517
Balance at Jul. 02, 2017	$ 374,645	$ 141,452	7,854,108	2,481,988	13,734,200
Cash dividends paid					(2,632,095)
Accrued dividends declared and payable					(877,365)
Change in unrealized gain on available-for-sale securities (shown net of tax)				(375,723)	(375,723)
Reclassification adjustment for loss (gain) included in Net Income, net of tax (benefit)				(3,520)	(3,520)
Net Earnings					3,785,985
Balance (in shares) at Jul. 01, 2018	3,746,454	1,414,517
Balance at Jul. 01, 2018	$ 374,645	$ 141,452	$ 7,854,108	$ 2,102,745	$ 14,010,725

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Cash Flows From Operating Activities
Net Earnings	$ 3,785,985	$ 2,451,110
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	946,106	973,849
Increase (decrease) in deferred income tax	68,814	(74,567)
Reduction in deferred income tax from Tax Act	(651,807)
Loss (gain) on disposition of assets-net	3,306	(77,972)
(Gain) loss on sale of available-for-sale securities	(8,531)	5,845
Changes in assets and liabilities
Decrease in inventories	44,285	26,476
(Increase) decrease in prepaid and other	(106,406)	108,692
Increase in income taxes refundable	(192,298)
Increase in accounts payable	132,701	13,075
Increase (decrease) in accrued expenses	37,558	(123,795)
Decrease in income taxes payable	(22,543)	(185,297)
(Decrease) increase in other current liabilities	(37,088)	16,342
Decrease in long-term deferred compensation	(973)	(5,207)
Net cash provided by operating activities	3,999,109	3,128,551
Cash Flows From Investing Activities
Expenditures for land, building and equipment	(787,285)	(326,398)
Sale of assets		93,599
Net (purchases) sales and maturities of short-term investments	(199,106)	350,635
Purchases of marketable securities	(55,621)	(86,284)
Proceeds from sale of marketable securities	1,000,000
Increase in cash surrender value	(43,875)	(32,165)
Net cash used in investing activities	(85,887)	(613)
Cash Flows From Financing Activities
Payment of cash dividends	(3,509,460)	(3,509,460)
Net cash used in financing activities	(3,509,460)	(3,509,460)
Net Change in Cash and Equivalents	403,762	(381,522)
Cash and Equivalents, Beginning of period	604,671	986,193
Cash and Equivalents, End of period	1,008,433	604,671
Supplemental Disclosures of Cash Flow Information Cash Paid During the Period for:
Interest paid		6,296
Income taxes	$ 1,411,000	$ 1,575,623

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Organization Bowl America Incorporated is engaged in the operation of 18 Ten one four three 18 726 one Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiary corporations. All significant inter-company items have been eliminated in the consolidated financial statements. Fiscal Year The Company's fiscal year ends on the Sunday nearest to June 30. 2018 July 1, 2018, 2017 July 2, 2017. 2018 2017 52 Subsequent Events The Company has evaluated subsequent events through the date of filing these financial statements with the Securities and Exchange Commission on September 27, 2018. Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may Revenue Recognition The Company records revenue for fees charged for use of bowling lanes and other facilities at the time the services are provided. Food, beverage and merchandise sales are recorded as revenue at the time the product is given to the customer. Depreciation and Amortization Depreciation and amortization for financial statement purposes are calculated by use of the straight-line method. Amortization of leasehold improvements is calculated over the estimated useful life of the asset or term of the lease, whichever is shorter. The categories of property, plant, and equipment and the ranges of estimated useful lives on which depreciation and amortization rates are based are as follows: Bowling lanes and equipment (years) 3 - 10 Building and building improvements (years) 10 - 39 Leasehold improvements (years) 5 - 15 Amusement games (years) 3 - 5 Maintenance and repairs and minor replacements are charged to expense when incurred. Major replacements and betterments are capitalized. The accounts are adjusted for the sale or other disposition of property, and the resulting gain or loss is credited or charged to income. Impairment of Long-Lived Assets The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not Dividends It is the Company's policy to accrue a dividend liability at the time the dividends are declared. Advertising Expense It is the Company's policy to expense advertising expenditures as they are incurred. The Company's advertising expenses for the years ending July 1, 2018, July 2, 2017, $311,090 $319,382, Inventories Inventories are stated at the lower of cost ( first first Income Taxes Deferred income tax liabilities and assets are based on the differences between the financial statement and tax bases of assets and liabilities, using tax rates currently in effect. A valuation allowance is provided when it is more likely than not not Investment Securities All of the Company's readily marketable debt and equity securities are classified as available-for-sale. Accordingly, these securities are recorded at fair value with any unrealized gains and losses excluded from earnings and reported, net of deferred taxes, within a separate component of stockholders' equity until realized. Realized gains or losses on the sale of debt and equity securities are reported in earnings and determined using the adjusted cost of the specific security sold. Earnings Per Share Earnings per share basic and diluted, have been calculated using the weighted average number of shares of Class A and Class B common stock outstanding of 5,160,971 2018 2017 Comprehensive Earnings A consolidated statement of comprehensive earnings reflecting the aggregation of net earnings and unrealized gain or loss on available-for-sale securities, the Company's principal components of other comprehensive earnings, has been presented for the years ended July 1, 2018 July 2, 2017. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers money market funds and certificates of deposits, with original maturities of three may not Other Current Liabilities Other current liabilities include prize fund monies held by the Company for bowling leagues. The funds are returned to the leagues at the end of the league bowling season. At July 1, 2018 July 2, 2017 $296,774 $334,272, Reclassifications Certain previous year amounts have been reclassified to conform with the current year presentation. New Accounting Standards In January 2016, June 2019 first 2019. $2,102,745 2018 02 In February 2016, 12 June 2020 In February 2018, 2018 02, 220 December 15, 2018 not In May 2014, No. 2014 09, 2014 09” 2014 9 may December 15, 2017. not December 15, 2016. 2019 not

Note 2 - Cash and Cash Equivale

Note 2 - Cash and Cash Equivalents	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	2. Cash and cash equivalents consisted of the following: Ju ly 1 , 201 8 July 2, 2017 Demand deposits and cash on hand $ 543,932 $ 467,161 Money market funds 464,501 137,510 Cash and Cash Equivalents $ 1,008,433 $ 604,671 The account balances at times exceed federally insured limits. The Company does not

Note 3 - Investments

Note 3 - Investments	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. The Company’s marketable securities are categorized as available-for-sale securities. The cost for marketable securities was determined using the specific identification method. The fair values of marketable securities are based on the quoted market price for those securities. At July 1, 2018, three one $2,157,875. July 2, 2017, three one $2,951,315. July 1, 2018 July 2, 2017 As of July 1, 2018, $39,450 $1,824,846. July 2, 2017, $17,248 $2,817,392. August 2017 $1,000,000 August 2017 The Company’s investments were as follows: Original Cost Unrealized Gain Unrealized Loss Fair Value Ju ly 1 , 20 1 8 Equity securities $ 1,279,914 $ 3,545,288 $ (8,398 ) $ 4,816,804 Mutual fund 1,864,296 - (39,450 ) 1,824,846 Certificates of deposits & Treasury bills 333,029 - - 333,029 Ju ly 2 , 20 1 7 Equity securities $ 1,279,914 $ 3,996,702 $ (4,298 ) $ 5,272,318 Mutual fund 2,800,144 17,248 - 2,817,392 Certificates of deposits 133,922 - - 133,922 During fiscal 2018 2017, $8,398 $4,298 Less than 12 months 12 Months or greater Total July 1, 2018 Fair Value Unrealized loss Fair Value Unrealized loss Fair Value Unrealized loss Equity securities $ 711 $ (479 ) $ 1,608 $ (7,919 ) $ 2,319 $ (8,398 ) Less than 12 months 12 Months or greater Total July 2, 2017 Fair Value Unrealized loss Fair Value Unrealized loss Fair Value Unrealized loss Equity securities $ - $ - $ 5,229 $ (4,298 ) $ 5,299 $ (4,298 ) The equity securities portfolio includes the following stocks: AT&T shares 82,112 Manulife shares 2,520 NCR shares 774 Teradata shares 774 Vodafone shares 6,471 CenturyLink shares 4,398 Frontier Communications shares 300 Sprint shares 40,000 Verizon shares 31,904 Windstream shares 135 Uniti shares 815 On May 25, 2018, 1 5 135 July 10, 2017 1 15 300 As stated in Note 1, three Level 1. Level 2. Level 3. no A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The fair value of these assets as of July 1, 2018 Quoted Significant Unrealized Cumulative Price for Other Significant gains/(losses) Unrealized Identical Observable Unobservable for the gains/(losses) Assets Inputs Inputs Year Ended as of Description (Level 1) (Level 2) (Level 3) July 1, 2018 July 1, 2018 Equity securities $ 4,816,804 $ - $ - $ (455,514 ) $ 3,536,890 Mutual fund 1,824,846 - - (62,572 ) (39,450 ) Certificates of deposits - 333,029 - - - TOTAL $ 6,641,650 $ 333,029 - $ (518,086 ) $ 3,497,440 The fair value of these assets as of July 2, 2017 Quoted Significant Unrealized Cumulative Price for Other Significant gains/(losses) Unrealized Identical Observable Unobservable for the gains/(losses) Assets Inputs Inputs Year Ended as of Description (Level 1) (Level 2) (Level 3) July 2, 2017 July 2, 2017 Equity securities $ 5,272,318 $ - $ - $ (729,508 ) $ 3,992,404 Mutual fund 2,817,392 - - (91,507 ) 17,248 Certificates of deposits - 133,922 - - - TOTAL $ 8,089,710 $ 133,922 - $ (821,015 ) $ 4,009,652 The fair value of certificates of deposits is estimated using net present value techniques and comparing the values to certificates with similar terms.

Note 4 - Land, Buildings, and E

Note 4 - Land, Buildings, and Equipment	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Land, buildings, and equipment, at cost, consisted of the following: Ju ly 1 , 201 8 July 2, 2017 Buildings $ 18,666,152 $ 18,666,152 Leasehold and building improvements 8,223,932 8,168,717 Bowling lanes and equipment 22,490,960 22,418,775 Land 10,510,308 10,510,308 Amusement games 17,519 17,519 Bowling lanes and equipment not yet in use 53,803 57,916 Total Land, Buildings, and Equipment 59,962,674 59,839,387 Less accumulated depreciation and amortization 41,264,023 40,978,609 Land, Buildings, and Equipment, net $ 18,698,651 $ 18,860,778 Depreciation and amortization expense for buildings and equipment for fiscal years 2018 2017 $946,106, $973,849, not and equipment not not

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	5. Lease Commitments The Company and its subsidiaries are obligated under long-term real estate lease agreements for two At July 1, 2018, Year Ending 2019 $ 318,000 2020 33,834 Total minimum lease payments $ 351,834 Net rent expense was as follows: For the Years Ended Ju ly 1, 20 1 8 July 2, 2017 Minimum rent under operating leases $ 318,000 $ 318,000 Excess percentage rents - - Net rent expense $ 318,000 $ 318,000 Purchase Commitments The Company's purchase commitments at July 1, 2018 one $275,000.

Note 6 - Profit-sharing and ESO

Note 6 - Profit-sharing and ESOP Plan	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	6. The Company has two first December 29 one one thousand July 1, 2018 July 2, 2017, $113,000 $90,000, Effective March 31, 1987, one thousand $113,000 2018 $90,000 2017. no

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. The Company is required to analyze all material positions it has taken or plans to take in all tax returns that have been filed or should have been filed with all taxing authorities for all years still subject to challenge by those taxing authorities. If the position taken is “more-likely-than- not” 50% The Company had no July 1, 2018 twelve No June 29, 2014 On December 22, 2017, 35 21 January 1, 2018. 2018, 27.5 21 2019 The Tax Act also puts in place new tax laws that may 2019, not one may may During the second 2018, $604,190 $604,190 July 1, 2018, $651,807 $.13 The significant components of the Company's deferred tax assets and liabilities were as follows: Ju ly 1, 20 1 8 July 2, 2017 Deferred tax assets: Other $ 20,723 $ 8,162 Total deferred tax assets 20,723 8,162 Deferred tax liabilities: Land, buildings, and equipment 418,254 521,818 Unrealized gain on available-for-sale securities 905,056 1,529,585 Prepaid expenses and other 9,110 (15,582 ) Total deferred tax liabilities 1,332,420 2,035,821 Net deferred income taxes $ 1,311,697 $ 2,027,659 Income tax expense differs from the amounts computed by applying the U.S. Federal income tax rate to income before tax for the following reasons: For the Years Ended 20 1 8 2017 Taxes computed at statutory rate 27.5 % 34.0 % State income taxes, net of Federal income tax benefit 3.6 3.2 Dividends received exclusion (1.0 ) (1.8 ) Tax rate adjustment for change in tax law (14.8 ) - All other net (1.3 ) (1.0 ) Net effective rate 14.0 % 34.4 %

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. The Class A shares have one may ten At July 1, 2018, July 2, 2017, $34,799 2% 2.5% three 2017 2018.

Note 9 - Deferred Compensation

Note 9 - Deferred Compensation	12 Months Ended
	Jul. 01, 2018
Notes to Financial Statements
Compensation Related Costs, General [Text Block]	9. Deferred compensation payable was a total of $19,431 July 1, 2018, $24,639 July 2, 2017. $1,991 July 1, 2018, $6,226 July 2, 2017,

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 01, 2018
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiary corporations. All significant inter-company items have been eliminated in the consolidated financial statements.
Fiscal Period, Policy [Policy Text Block]	Fiscal Year The Company's fiscal year ends on the Sunday nearest to June 30. 2018 July 1, 2018, 2017 July 2, 2017. 2018 2017 52
Subsequent Events, Policy [Policy Text Block]	Subsequent Events The Company has evaluated subsequent events through the date of filing these financial statements with the Securities and Exchange Commission on September 27, 2018.
Use of Estimates, Policy [Policy Text Block]	Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company records revenue for fees charged for use of bowling lanes and other facilities at the time the services are provided. Food, beverage and merchandise sales are recorded as revenue at the time the product is given to the customer.
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation and Amortization Depreciation and amortization for financial statement purposes are calculated by use of the straight-line method. Amortization of leasehold improvements is calculated over the estimated useful life of the asset or term of the lease, whichever is shorter. The categories of property, plant, and equipment and the ranges of estimated useful lives on which depreciation and amortization rates are based are as follows: Bowling lanes and equipment (years) 3 - 10 Building and building improvements (years) 10 - 39 Leasehold improvements (years) 5 - 15 Amusement games (years) 3 - 5 Maintenance and repairs and minor replacements are charged to expense when incurred. Major replacements and betterments are capitalized. The accounts are adjusted for the sale or other disposition of property, and the resulting gain or loss is credited or charged to income.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not
Dividends [Policy Text Block]	Dividends It is the Company's policy to accrue a dividend liability at the time the dividends are declared.
Advertising Costs, Policy [Policy Text Block]	Advertising Expense It is the Company's policy to expense advertising expenditures as they are incurred. The Company's advertising expenses for the years ending July 1, 2018, July 2, 2017, $311,090 $319,382,
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost ( first first
Income Tax, Policy [Policy Text Block]	Income Taxes Deferred income tax liabilities and assets are based on the differences between the financial statement and tax bases of assets and liabilities, using tax rates currently in effect. A valuation allowance is provided when it is more likely than not not
Investment, Policy [Policy Text Block]	Investment Securities All of the Company's readily marketable debt and equity securities are classified as available-for-sale. Accordingly, these securities are recorded at fair value with any unrealized gains and losses excluded from earnings and reported, net of deferred taxes, within a separate component of stockholders' equity until realized. Realized gains or losses on the sale of debt and equity securities are reported in earnings and determined using the adjusted cost of the specific security sold.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Earnings per share basic and diluted, have been calculated using the weighted average number of shares of Class A and Class B common stock outstanding of 5,160,971 , 2018 2017
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Earnings A consolidated statement of comprehensive earnings reflecting the aggregation of net earnings and unrealized gain or loss on available-for-sale securities, the Company's principal components of other comprehensive earnings, has been presented for the years ended July 1, 2018 July 2, 2017.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers money market funds and certificates of deposits, with original maturities of three may not
Other Current Liabilities [Policy Text Block]	Other Current Liabilities Other current liabilities include prize fund monies held by the Company for bowling leagues. The funds are returned to the leagues at the end of the league bowling season. At July 1, 2018 July 2, 2017 $296,774 $334,272,
Reclassification, Policy [Policy Text Block]	Reclassifications Certain previous year amounts have been reclassified to conform with the current year presentation.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards In January 2016, June 2019 first 2019. $2,102,745 2018 02 In February 2016, 12 June 2020 In February 2018, 2018 02, 220 December 15, 2018 not In May 2014, No. 2014 09, 2014 09” 2014 9 may December 15, 2017. not December 15, 2016. 2019 not

Note 1 - Organization and Sig18

Note 1 - Organization and Significant Accounting Policies (Tables)	12 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Depreciation and Amortization Rates [Table Text Block]	Bowling lanes and equipment (years) 3 - 10 Building and building improvements (years) 10 - 39 Leasehold improvements (years) 5 - 15 Amusement games (years) 3 - 5

Note 2 - Cash and Cash Equiva19

Note 2 - Cash and Cash Equivalents (Tables)	12 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	Ju ly 1 , 201 8 July 2, 2017 Demand deposits and cash on hand $ 543,932 $ 467,161 Money market funds 464,501 137,510 Cash and Cash Equivalents $ 1,008,433 $ 604,671

Note 3 - Investments (Tables)

Note 3 - Investments (Tables)	12 Months Ended
	Jul. 01, 2018
Notes Tables
Available-for-sale Securities [Table Text Block]	Original Cost Unrealized Gain Unrealized Loss Fair Value Ju ly 1 , 20 1 8 Equity securities $ 1,279,914 $ 3,545,288 $ (8,398 ) $ 4,816,804 Mutual fund 1,864,296 - (39,450 ) 1,824,846 Certificates of deposits & Treasury bills 333,029 - - 333,029 Ju ly 2 , 20 1 7 Equity securities $ 1,279,914 $ 3,996,702 $ (4,298 ) $ 5,272,318 Mutual fund 2,800,144 17,248 - 2,817,392 Certificates of deposits 133,922 - - 133,922
Schedule of Unrealized Loss on Investments [Table Text Block]	Less than 12 months 12 Months or greater Total July 1, 2018 Fair Value Unrealized loss Fair Value Unrealized loss Fair Value Unrealized loss Equity securities $ 711 $ (479 ) $ 1,608 $ (7,919 ) $ 2,319 $ (8,398 ) Less than 12 months 12 Months or greater Total July 2, 2017 Fair Value Unrealized loss Fair Value Unrealized loss Fair Value Unrealized loss Equity securities $ - $ - $ 5,229 $ (4,298 ) $ 5,299 $ (4,298 )
Schedule Of Telecommunications Stocks Held [Table Text Block]	AT&T shares 82,112 Manulife shares 2,520 NCR shares 774 Teradata shares 774 Vodafone shares 6,471 CenturyLink shares 4,398 Frontier Communications shares 300 Sprint shares 40,000 Verizon shares 31,904 Windstream shares 135 Uniti shares 815
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Quoted Significant Unrealized Cumulative Price for Other Significant gains/(losses) Unrealized Identical Observable Unobservable for the gains/(losses) Assets Inputs Inputs Year Ended as of Description (Level 1) (Level 2) (Level 3) July 1, 2018 July 1, 2018 Equity securities $ 4,816,804 $ - $ - $ (455,514 ) $ 3,536,890 Mutual fund 1,824,846 - - (62,572 ) (39,450 ) Certificates of deposits - 333,029 - - - TOTAL $ 6,641,650 $ 333,029 - $ (518,086 ) $ 3,497,440 Quoted Significant Unrealized Cumulative Price for Other Significant gains/(losses) Unrealized Identical Observable Unobservable for the gains/(losses) Assets Inputs Inputs Year Ended as of Description (Level 1) (Level 2) (Level 3) July 2, 2017 July 2, 2017 Equity securities $ 5,272,318 $ - $ - $ (729,508 ) $ 3,992,404 Mutual fund 2,817,392 - - (91,507 ) 17,248 Certificates of deposits - 133,922 - - - TOTAL $ 8,089,710 $ 133,922 - $ (821,015 ) $ 4,009,652

Note 4 - Land, Buildings, and21

Note 4 - Land, Buildings, and Equipment (Tables)	12 Months Ended
	Jul. 01, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	Ju ly 1 , 201 8 July 2, 2017 Buildings $ 18,666,152 $ 18,666,152 Leasehold and building improvements 8,223,932 8,168,717 Bowling lanes and equipment 22,490,960 22,418,775 Land 10,510,308 10,510,308 Amusement games 17,519 17,519 Bowling lanes and equipment not yet in use 53,803 57,916 Total Land, Buildings, and Equipment 59,962,674 59,839,387 Less accumulated depreciation and amortization 41,264,023 40,978,609 Land, Buildings, and Equipment, net $ 18,698,651 $ 18,860,778

Note 5 - Commitments and Cont22

Note 5 - Commitments and Contingencies (Tables)	12 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year Ending 2019 $ 318,000 2020 33,834 Total minimum lease payments $ 351,834
Schedule of Rent Expense [Table Text Block]	For the Years Ended Ju ly 1, 20 1 8 July 2, 2017 Minimum rent under operating leases $ 318,000 $ 318,000 Excess percentage rents - - Net rent expense $ 318,000 $ 318,000

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Jul. 01, 2018
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Ju ly 1, 20 1 8 July 2, 2017 Deferred tax assets: Other $ 20,723 $ 8,162 Total deferred tax assets 20,723 8,162 Deferred tax liabilities: Land, buildings, and equipment 418,254 521,818 Unrealized gain on available-for-sale securities 905,056 1,529,585 Prepaid expenses and other 9,110 (15,582 ) Total deferred tax liabilities 1,332,420 2,035,821 Net deferred income taxes $ 1,311,697 $ 2,027,659
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the Years Ended 20 1 8 2017 Taxes computed at statutory rate 27.5 % 34.0 % State income taxes, net of Federal income tax benefit 3.6 3.2 Dividends received exclusion (1.0 ) (1.8 ) Tax rate adjustment for change in tax law (14.8 ) - All other net (1.3 ) (1.0 ) Net effective rate 14.0 % 34.4 %

Note 1 - Organization and Sig24

Note 1 - Organization and Significant Accounting Policies (Details Textual)	3 Months Ended	12 Months Ended
	Sep. 30, 2018USD ($)	Jul. 01, 2018USD ($)shares	Jul. 02, 2017USD ($)shares
Number of Stores		18
Number of Lanes in Operation		726
Number of Operating Segments		1
Advertising Expense		$ 311,090	$ 319,382
Common Stock, Shares, Outstanding, Ending Balance | shares		5,160,971	5,160,971
Other Liabilities, Current, Total		$ 305,236	$ 342,324
Scenario, Forecast [Member]
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings Related to Equity Securities	$ 2,102,745
Prize Fund Monies [Member]
Other Liabilities, Current, Total		$ 296,774	$ 334,272
Washington DC [Member]
Number of Stores		10
Baltimore Maryland [Member]
Number of Stores		1
Richmond, Virginia [Member]
Number of Stores		4
Jacksonville, Florida [Member]
Number of Stores		3

Note 1 - Organization and Sig25

Note 1 - Organization and Significant Accounting Policies - Depreciation and Amortization Rates (Details)	12 Months Ended
	Jul. 01, 2018
Bowling Lanes and Equipment [Member] | Minimum [Member]
Property, Plant, and Equipment, Useful Life (Year)	3 years
Bowling Lanes and Equipment [Member] | Maximum [Member]
Property, Plant, and Equipment, Useful Life (Year)	10 years
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant, and Equipment, Useful Life (Year)	10 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant, and Equipment, Useful Life (Year)	39 years
Leasehold Improvements [Member] | Minimum [Member]
Property, Plant, and Equipment, Useful Life (Year)	5 years
Leasehold Improvements [Member] | Maximum [Member]
Property, Plant, and Equipment, Useful Life (Year)	15 years
Amusement Games [Member] | Minimum [Member]
Property, Plant, and Equipment, Useful Life (Year)	3 years
Amusement Games [Member] | Maximum [Member]
Property, Plant, and Equipment, Useful Life (Year)	5 years

Note 2 - Cash and Cash Equiva26

Note 2 - Cash and Cash Equivalents - Cash and Cash Equivalents (Details) - USD ($)	Jul. 01, 2018	Jul. 02, 2017	Jul. 03, 2016
Demand deposits and cash on hand	$ 543,932	$ 467,161
Money market funds	464,501	137,510
Cash and Cash Equivalents	$ 1,008,433	$ 604,671	$ 986,193

Note 3 - Investments (Details T

Note 3 - Investments (Details Textual)	May 25, 2018shares	Jul. 10, 2017shares	Aug. 31, 2017USD ($)	Jul. 02, 2017USD ($)	Jul. 01, 2018USD ($)shares
Short-term Investments, Total				$ 2,951,315	$ 2,157,875
Windstream [Member]
Investment Owned, Balance, Shares | shares	135				135
Frontier Communications [Member]
Investment Owned, Balance, Shares | shares		300			300
Windstream [Member] | Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
Frontier Communications [Member] | Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		15
Mutual Fund [Member]
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total					$ 39,450
Available-for-sale Securities, Total				2,817,392	1,824,846
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total				17,248
Redemption of Securities to Meet Dividend Payment			$ 1,000,000
Equity Securities [Member]
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total				4,298	8,398
Available-for-sale Securities, Total				5,272,318	4,816,804
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total				3,996,702	3,545,288
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total				$ 4,298	$ 8,398
Minimum [Member]
Short-term Investments Maturities Term				90 days
Maximum [Member]
Short-term Investments Maturities Term				1 year

Note 3 - Investments - Summary

Note 3 - Investments - Summary of Investments (Details) - USD ($)	Jul. 01, 2018	Jul. 02, 2017
Equity Securities [Member]
Cost Basis	$ 1,279,914	$ 1,279,914
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total	3,545,288	3,996,702
Unrealized Loss	(8,398)	(4,298)
Fair Value	4,816,804	5,272,318
Mutual Fund [Member]
Cost Basis	1,864,296	2,800,144
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total		17,248
Unrealized Loss	(39,450)
Fair Value	1,824,846	2,817,392
Certificates of Deposit [Member]
Cost Basis	333,029	133,922
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax, Total
Unrealized Loss
Fair Value	$ 333,029	$ 133,922

Note 3 - Investments - Unrealiz

Note 3 - Investments - Unrealized Losses Equity Securities (Details) - Equity Securities [Member] - USD ($)	Jul. 01, 2018	Jul. 02, 2017
Less than 12 months Fair Value	$ 711
Less than 12 months Unrealized loss	(479)
12 Months or greater Fair Value	1,608	5,229
12 Months or greater Unrealized loss	(7,919)	(4,298)
Total Fair Value	2,319	5,299
Total Unrealized loss	(8,398)	(4,298)
Less than 12 months Unrealized loss	$ 479

Note 3 - Investments - Telecomm

Note 3 - Investments - Telecommunications Stocks Held (Details) - shares	Jul. 01, 2018	May 25, 2018	Jul. 10, 2017
ATT [Member]
Investment (in shares)	82,112
Manulife [Member]
Investment (in shares)	2,520
NCR [Member]
Investment (in shares)	774
Teradata [Member]
Investment (in shares)	774
Vodafone [Member]
Investment (in shares)	6,471
CenturyLink [Member]
Investment (in shares)	4,398
Frontier Communications [Member]
Investment (in shares)	300		300
Sprint [Member]
Investment (in shares)	40,000
Verizon [Member]
Investment (in shares)	31,904
Windstream [Member]
Investment (in shares)	135	135
Uniti Shares [Member]
Investment (in shares)	815

Note 3 - Investments - Fair Val

Note 3 - Investments - Fair Value Hierarchy (Details) - USD ($)	12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Available-for-sale Securities, Gross Unrealized Gain (Loss)	$ (518,086)	$ (821,015)
Cumulative Unrealized Gain (Loss)	3,497,440	4,009,652
Equity Securities [Member]
Available-for-sale Securities, Total	4,816,804	5,272,318
Available-for-sale Securities, Gross Unrealized Gain (Loss)	(455,514)	(729,508)
Cumulative Unrealized Gain (Loss)	3,536,890	3,992,404
Mutual Fund [Member]
Available-for-sale Securities, Total	1,824,846	2,817,392
Available-for-sale Securities, Gross Unrealized Gain (Loss)	(62,572)	(91,507)
Cumulative Unrealized Gain (Loss)	(39,450)	17,248
Certificates of Deposit [Member]
Available-for-sale Securities, Total	333,029	133,922
Available-for-sale Securities, Gross Unrealized Gain (Loss)
Cumulative Unrealized Gain (Loss)
Fair Value, Inputs, Level 1 [Member]
Available-for-sale Securities, Total	6,641,650	8,089,710
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Available-for-sale Securities, Total	4,816,804	5,272,318
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Available-for-sale Securities, Total	1,824,846	2,817,392
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member]
Available-for-sale Securities, Total
Fair Value, Inputs, Level 2 [Member]
Available-for-sale Securities, Total	333,029	133,922
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member]
Available-for-sale Securities, Total
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member]
Available-for-sale Securities, Total
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member]
Available-for-sale Securities, Total	333,029	133,922
Fair Value, Inputs, Level 3 [Member]
Available-for-sale Securities, Total
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Available-for-sale Securities, Total
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member]
Available-for-sale Securities, Total
Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member]
Available-for-sale Securities, Total

Note 4 - Land, Buildings, and32

Note 4 - Land, Buildings, and Equipment (Details Textual) - USD ($)	12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Depreciation, Depletion and Amortization, Total	$ 946,106	$ 973,849
Building and Equipment [Member]
Depreciation, Depletion and Amortization, Total	$ 946,106	$ 973,849

Note 4 - Land, Buildings, and33

Note 4 - Land, Buildings, and Equipment - Land, Buildings, and Equipment At Cost (Details) - USD ($)	Jul. 01, 2018	Jul. 02, 2017
Buildings	$ 18,666,152	$ 18,666,152
Leasehold and building improvements	8,223,932	8,168,717
Land	10,510,308	10,510,308
Total Land, Buildings, and Equipment	59,962,674	59,839,387
Less accumulated depreciation and amortization	41,264,023	40,978,609
Land, Buildings, and Equipment, net	18,698,651	18,860,778
Bowling Lanes and Equipment [Member]
Other Property, Plant, and Equipment	22,490,960	22,418,775
Amusement Games [Member]
Other Property, Plant, and Equipment	17,519	17,519
Bowling Lanes and Equipment Not Yet in Use [Member]
Other Property, Plant, and Equipment	$ 53,803	$ 57,916

Note 5 - Commitments and Cont34

Note 5 - Commitments and Contingencies (Details Textual)	Sep. 26, 2018USD ($)	Jul. 01, 2018
Capital Leased Assets, Number of Units		2
Subsequent Event [Member]
Purchase Commitment, Agreement to Upgrade Scoring System	$ 275,000

Note 5 - Commitments and Cont35

Note 5 - Commitments and Contingencies - Minimum Lease Commitments (Details)	Jul. 01, 2018USD ($)
2,019	$ 318,000
2,020	33,834
Total minimum lease payments	$ 351,834

Note 5 - Commitments and Cont36

Note 5 - Commitments and Contingencies - Net Rent Expense (Details) - USD ($)	12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Minimum rent under operating leases	$ 318,000	$ 318,000
Net rent expense	$ 318,000	$ 318,000

Note 6 - Profit-sharing and E37

Note 6 - Profit-sharing and ESOP Plan (Details Textual)	12 Months Ended
	Jul. 01, 2018USD ($)	Jul. 02, 2017USD ($)
Defined Contribution Plan Number of Plans	2
Defined Contribution Plan Service Requirement	1 year
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 113,000	$ 90,000
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP	$ 113,000	$ 90,000

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Jun. 30, 2019	Jul. 01, 2018	Jul. 02, 2017
Unrecognized Tax Benefits, Ending Balance				$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total				$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%		27.50%	34.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ (604,190)
Decrease in Deferred Tax Liabilities from Tax Act				$ 651,807
Earnings Per Share, Adjustment Due to Change in Enacted Tax Rate				$ 0.13
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%

Note 7 - Income Taxes - Deferre

Note 7 - Income Taxes - Deferred Tax Asset Components (Details) - USD ($)	Jul. 01, 2018	Jul. 02, 2017
Other	$ 20,723	$ 8,162
Total deferred tax assets	20,723	8,162
Land, buildings, and equipment	418,254	521,818
Unrealized gain on available-for-sale securities	905,056	1,529,585
Prepaid expenses and other	9,110	(15,582)
Total deferred tax liabilities	1,332,420	2,035,821
Net deferred income taxes	$ 1,311,697	$ 2,027,659

Note 7 - Income Taxes - Income

Note 7 - Income Taxes - Income Tax Reconciliation (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2017	Jul. 01, 2018	Jul. 02, 2017
Taxes computed at statutory rate	35.00%	27.50%	34.00%
State income taxes, net of Federal income tax benefit		3.60%	3.20%
Dividends received exclusion		(1.00%)	(1.80%)
Tax rate adjustment for change in tax law		(14.80%)
All other net		(1.30%)	(1.00%)
Net effective rate		14.00%	34.40%

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Details Textual)	12 Months Ended
	Jul. 01, 2018USD ($)	Jul. 02, 2017USD ($)
Due from Employees	$ 34,799	$ 34,799
Loans to Employees Term Length	3 years
Minimum [Member]
Loans to Employees Stated Percentage Rate	2.00%
Maximum [Member]
Loans to Employees Stated Percentage Rate	2.50%
Common Class A [Member]
Common Stock Voting Rights Vote Per Share	1
Common Class B [Member]
Common Stock Voting Rights Vote Per Share	10

Note 9 - Deferred Compensation

Note 9 - Deferred Compensation (Details Textual) - USD ($)	Jul. 01, 2018	Jul. 02, 2017
Deferred Compensation Liability, Current and Noncurrent, Total	$ 19,431	$ 24,639
Deferred Compensation Liability, Current, Total	$ 1,991	$ 6,226