Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1- Ahmad is going to travel a way from home to study aboard for about two years. He gave his friend Yasser a 90gm of

image text in transcribed
1- Ahmad is going to travel a way from home to study aboard for about two years. He gave his friend Yasser a 90gm of gold bars to keep it until he come back home. Yasser have SAR 100,000 in his bank account that he keeps since the last year. Also he lives on a luxury house and own luxury cars. Sometimes Yasser lease his cars to few renters during the year to generate some revenue. His wife has 85gm of gold bars that she keeps it for investment. Required: If Yasser want to pay Zakat, what are the assets (wealth) for which he should pay Zakat, assuming one lunar year have passed since the assets reach the Nisab. 2- Yousef and Mohammed made a business agreement in which Yousef is going to provide SR 300,000 , and Mohammed will use this amount in an investment for generating a profit. During 1439H.C the total profit was SR 150,000 . Mohammed will take 35% of that profit and the remining will be returned to Yousef. Explain who should pay the Zakat on the profit, and who should pay zakat on the capital. 3- Hend have a total Zakat assets of SAR 60,000 . At the same time, she have a liability of SAR 100,000, that is due in 3 years. Current year payment of the liability is SAR 50,000. Her Husband Ahmad, has a loan of SAR10,000 that is due in the coming year. Required : If Hend want to calculate the Zakat due by the end of year 1441 What are the liabilities that can be deductible for Hend, and why

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions