Question
Use the following information for Al-Rahama's corporation 31/ 12/ 2019:Current Assets S.R 200000, Net fixed assets S.R 120000, Current Liabilities S.R 40000, Long term Liabilities
Use the following information for Al-Rahama's corporation 31/ 12/ 2019:Current Assets S.R 200000, Net fixed assets S.R 120000, Current Liabilities S.R 40000, Long term Liabilities S.R 60000, Owner's Capital S.R 220000, and Net income before Zakat S.R 80000.
Required:
Calculate zakat base and zakat due (Market value of gold S.R 227/gram)? (show your calculation).
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
10th edition
78025621, 978-0078025624
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