Task 1: 85000 30000 27000 30000 Financial position Current assets Current liabilities Accounts receivable 125000 Accounts payable Inventory 95000 Overdraft Prepayments 35000 Dividend payable Cash & bank 79000 Tax payable Dividends receivable 26000 Fixed assets Long-term loan Property, plant, and equipment 135000 Term loan Real estate investments 125000 Owners equity Share capital Eeserves Profit Total 620000 225000 100000 85000 38000 620000 20000 15000 The following have not been adjusted: 1. Inventory includes work in progress 2. Inventory includes raw materials 3. Prepayment is related to insurance and road tax. 4. Included in the bank is fixed deposit used to secure financing facility from Bank A amounting to 5. Term loan payable during the next year which has not been reclassified is 6. One customer was declared bankrupt. He owed 20000 35000 15000 Required: Calculate zakat payable using: 1. The net assets method 2. The net invested funds method Task 1: 85000 30000 27000 30000 Financial position Current assets Current liabilities Accounts receivable 125000 Accounts payable Inventory 95000 Overdraft Prepayments 35000 Dividend payable Cash & bank 79000 Tax payable Dividends receivable 26000 Fixed assets Long-term loan Property, plant, and equipment 135000 Term loan Real estate investments 125000 Owners equity Share capital Eeserves Profit Total 620000 225000 100000 85000 38000 620000 20000 15000 The following have not been adjusted: 1. Inventory includes work in progress 2. Inventory includes raw materials 3. Prepayment is related to insurance and road tax. 4. Included in the bank is fixed deposit used to secure financing facility from Bank A amounting to 5. Term loan payable during the next year which has not been reclassified is 6. One customer was declared bankrupt. He owed 20000 35000 15000 Required: Calculate zakat payable using: 1. The net assets method 2. The net invested funds method