ISLAMIC ACCOUNTING

Q1) (4 Marks): - A) The financier offered 10,000 dinars to the speculator (Mudareb), to buy goods, and the two partners agreed to distribute the profit at a ratio of 2:3, respectively, given that the speculator (Mudareb) bought goods at a value of 8,000 dinars and sold them at a value of 9200 dinars, and there are no speculative expenses. The financier also stipulated that the speculator (Mudareb) should sell at a price of more than 9,000 dinars, knowing that the proverbial fare (likewise fare) is 550 dinars. Instructions: Specify the share of the financier and the speculator (Mudareb) from the profit and the amount due for each, B) The financier offered 10,000 dinars to the speculator (Mudareb), to buy goods, and the two partners agreed to distribute the profit at a ratio of 3:2, respectively, given that the speculator (Mudareb) bought goods at a value of 8,000 dinars and sold them at a value of 9200 dinars, and there are no speculative expenses. The speculator (Mudareb) charged a selling commission of 300 dinars and he spent 200 dinars for school fees for his children, and Mudareb donated 200 dinars to Charitable organization knowing that the proverbial fare (likewise fare) is 500 dinars. Instructions Calculate the shares of the financier and the speculator (Mudareb) from the profit