Open with Google Docs 4. On 31.12.2019, Gemilan investments in its portfolio erhad (GIF) has the following Market/ Fair Value per unit on 31.12.2019 (RM) Purchase value per unit (RM) Purchase date Quantity 380,000 01.05.2019 18.00 22.00 01 02 2013 3.50 Security Investment Issuer type intention Jawhar Oil & Common Available for Gas Berhad stock sale (JOG) Ta'zim Tech Common Held for Berhad stock trading (TTB) Tanjung Private Held to Plantation Sukuk maturity Berhad (TPB) State of Sovereign Held to Sabah Sukuk maturity * Date format: dd.mm.yyyy 250,000 units 19.00 01.07.2010 10.000 28 units NA 15 02 2013 100,000 15 units NA Page 3 of 5 2020/2021 Trosodd Turn Over BIF6063 ISLAMIC ACCOUNTING SEP 2020-JAN 2021 Final Assessment CONFIDENTIAL Please note on the following additional information in regards to GIF investments: The company did not normally pay zakat on business wealth Following rules in accordance with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) under Financial Accounting Standard No. 17 (FAS 17) apply Recognition for investment in sukuk and shares shall be recognised on the acquisition date and shall be measured at cost, with exception to investment in sukuk and shares held for trading purposes and available for sale which shall be measured at their fair value (if available). Determine GIF's amount of a. Zakah payable on 31.12.2019 for each of its individual security. (4 marks) b. Total zakah payable on 31.12.2010 forite whole iniment portfolio. (1 mark) Page 3 / 5 Q + (Total: 5 marks) Open with Google Docs 4. On 31.12.2019, Gemilan investments in its portfolio erhad (GIF) has the following Market/ Fair Value per unit on 31.12.2019 (RM) Purchase value per unit (RM) Purchase date Quantity 380,000 01.05.2019 18.00 22.00 01 02 2013 3.50 Security Investment Issuer type intention Jawhar Oil & Common Available for Gas Berhad stock sale (JOG) Ta'zim Tech Common Held for Berhad stock trading (TTB) Tanjung Private Held to Plantation Sukuk maturity Berhad (TPB) State of Sovereign Held to Sabah Sukuk maturity * Date format: dd.mm.yyyy 250,000 units 19.00 01.07.2010 10.000 28 units NA 15 02 2013 100,000 15 units NA Page 3 of 5 2020/2021 Trosodd Turn Over BIF6063 ISLAMIC ACCOUNTING SEP 2020-JAN 2021 Final Assessment CONFIDENTIAL Please note on the following additional information in regards to GIF investments: The company did not normally pay zakat on business wealth Following rules in accordance with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) under Financial Accounting Standard No. 17 (FAS 17) apply Recognition for investment in sukuk and shares shall be recognised on the acquisition date and shall be measured at cost, with exception to investment in sukuk and shares held for trading purposes and available for sale which shall be measured at their fair value (if available). Determine GIF's amount of a. Zakah payable on 31.12.2019 for each of its individual security. (4 marks) b. Total zakah payable on 31.12.2010 forite whole iniment portfolio. (1 mark) Page 3 / 5 Q + (Total: 5 marks)
