Total 1. Following are the details of Mr. X's business income for the year ended 2014 Cash at Bank Cash in Safe Goods Accounting Zakat Statements on Trading and Industrial Wealth for trading in the business Commercial Properties Commercial Land Residential Properties Commercial Cars Personal Cars Mr. A have the following Liabilities: Account Receivable Loans Maintenance Expenses The answer: Item Zakatable Wealth for trading: Cash at Bank Cash in Safe Goods for trading in the business Commercial Properties Commercial Land Commercial Cars SR 30,000 SR 25,000 SR 50,000 SR 100,000 Required: Prepare the Zakat Statement on Trading and Industrial Wealth. The Rate of Gold per gram is SR 200 Debts: Maintenance Expenses Loans SR 100,000 SR 200,000 SR 50,000 SR 100,000 SR 50,000 SR 100,000 SR 20,000 Sub-total SR 30,000 SR 25,000 SR 50,000 SR 100,000 SR 100,000 SR 50,000 SR 20,000 SR 100,000 Total 355000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Accounting Zakat
Statements on Trading and industrial Wealth
1. Following are the details of Mr. X's business income for the year ended
2014
Cash at Bank
SR 30,000
SR 25,000
Cash in Safe
Goods for trading in the business
Commercial Properties
Commercial Land
Residential Properties
Commercial Cars
Personal Cars
SR 50,000
SR 100,000
SR 100,000
SR 200,000
SR 50,000
SR 100,000
Mr. A have the following Liabilities:
Account Receivable
Loans
Maintenance Expenses
SR S0,000
SR 100,000
SR 20,000
Required:
Prepare the Zakat Statement on Trading and Industrial Wealth.
The Rate of Gold per gram is SR 200
The answer:
Item
Sub-total
Total
Zakatable Wealth for trading:
Cash at Bank
Cash in Safe
Goods for trading in the business
Commercial Properties
Commercial Land
Commercial Cars
SR 30,000
SR 25,000
SR 50,000
SR 100,000
SR 100,000
SR 50,000
Total
355000
Debts:
Maintenance Expenses
SR 20,000
Loans
SR 100,000
Transcribed Image Text:Accounting Zakat Statements on Trading and industrial Wealth 1. Following are the details of Mr. X's business income for the year ended 2014 Cash at Bank SR 30,000 SR 25,000 Cash in Safe Goods for trading in the business Commercial Properties Commercial Land Residential Properties Commercial Cars Personal Cars SR 50,000 SR 100,000 SR 100,000 SR 200,000 SR 50,000 SR 100,000 Mr. A have the following Liabilities: Account Receivable Loans Maintenance Expenses SR S0,000 SR 100,000 SR 20,000 Required: Prepare the Zakat Statement on Trading and Industrial Wealth. The Rate of Gold per gram is SR 200 The answer: Item Sub-total Total Zakatable Wealth for trading: Cash at Bank Cash in Safe Goods for trading in the business Commercial Properties Commercial Land Commercial Cars SR 30,000 SR 25,000 SR 50,000 SR 100,000 SR 100,000 SR 50,000 Total 355000 Debts: Maintenance Expenses SR 20,000 Loans SR 100,000
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