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Hi can you help me to answer this accounting for zakat question Question 5 Bank Al-Rajhi Berhad Statement of Financial Position as at 31st December

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Hi can you help me to answer this accounting for zakat question

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Question 5 Bank Al-Rajhi Berhad Statement of Financial Position as at 31st December 2011 Assets $ '000 Cash and balances with banks and agents 465,000 Deposits and placements with financial institutions 3,031,500 Investments held for trading 2,732,100 Statutory deposits with Bank Negara Malaysia 751,500 Financing of customers 5,400,900 Tax recoverable 27,600 Bills receivable 381,900 Fixed Assets 1,050,000 13,840,500 342ACCOUNTING FOR ISLAMIC BANKS Liabilities Deposit from customers $ '000 Deposits and placements of banks and other financial 10,050,000 institutions 151,500 Bills payable 196,500 Shareholders' Funds Share capital 1,500,000 Reserves 1,942,500 13,840,500 Additional information at the end of the year (no adjustments are yet to be made): a. The market value of Investments held for trading is 9% more than the total net book value. b. It is expected that as at 31* December 2011, the rate of non-performance financing is 3 % of the total financing. This is due to the down-turn of the economy. c. Included in the Shareholders' Funds is equity owned by charitable organizations amounting to $50,000. Required: i. Determine the amount of zakat payable by Bank Al-Rajhi Berhad for the financial year ending 31 December 2011 using the two methods suggested by AAOIFI's FAS 9. (12 marks) ii. Why are assets subjected to Zakat valued at cash equivalent value? Explain. (2 marks) iii. What are the recommendations of FAS 9 as regards disclosure (6 marks) requirements

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