The following data from the balance sheet for a company as at the end of the...
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The following data from the balance sheet for a company as at the end of the fiscal year: Current assets SAR 10,000 Current liabilities SAR 5,000 Long-term assets (property and equipment) SAR 6,000 Long-term liabilities SAR 7,000 Equity SAR 4,000 Instructions: Use the Zakat guidelines uploaded on Blackboard (documents): 1. Read page 14 to 21 "Methods of Zakat Calculation for Companies". 2. Calculate the zakat base using the direct and Indirect method. The following data from the balance sheet for a company as at the end of the fiscal year: Current assets SAR 10,000 Current liabilities SAR 5,000 Long-term assets (property and equipment) SAR 6,000 Long-term liabilities SAR 7,000 Equity SAR 4,000 Instructions: Use the Zakat guidelines uploaded on Blackboard (documents): 1. Read page 14 to 21 "Methods of Zakat Calculation for Companies". 2. Calculate the zakat base using the direct and Indirect method.
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Direct method of calculating Zakat base All zakatable assets amounts that funded the... View the full answer
Related Book For
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
Posted Date:
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