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In Hijri 1440, Ahmad has 47896 OMR amount of cash and bank accounts, 500 grams of gold and each gram gold is 16 OMR.
In Hijri 1440, Ahmad has 47896 OMR amount of cash and bank accounts, 500 grams of gold and each gram gold is 16 OMR. He has a car used for personal purposes with a value of 11954 OMR, his income from the business is 40640 OMR. Ahmad uses a truck in his business and its value is 13284 OMR. His family expense is 24957 OMR and he has a loan to pay at the amount of 32135 OMR. The goods ready to sell in his company amounts to 6014 OMR. What is the amount of Zakat Ahmad must pay for Hijri 1440?
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ANSWER Calculating Zakat requires determining Ahmads total wealth and then applying the Zakat rate ...
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Accounting Principles Part 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
6th Canadian edition
1118306783, 978-1118728918, 1118728912, 978-1118306789
