ACCT 422 SEU Calculate the Receptacle of The Zakat for Each Kind of Zakat Questions

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Yvna123456789

Business Finance

Acct 422

Saudi electronic university

ACCT

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College of Administration and Finance Sciences Course Name: Tax and Zakat Accounting Course Code: ACCT 422 Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism. • Submissions without this cover page will NOT be accepted. Assignment 2 College of Administration and Finance Sciences Q1. Ahmed is a Saudi national has submitted his zakat return including the following information for 1441H (amounts in SR) (2 Marks) a) Owns an investment building at a book value of 600,000 and with market value of 900,000, the investment building produced a monthly rental value of 30,000, actual total expenses incurred of getting the income is of 60,000. b) Owns an investment car at a book value of 300,000 and with market value of 450,000, the car produced annual revenues of 300,000, actual total expenses incurred of getting the income is of 45,000. Required: Calculate the receptacle of the zakat for each kind of zakat 1441 H. Q2. Yasser is a zakat payer has agriculture and fruits production farms. The land with market value SR 450,000. Assuming zakat receptacle exceeds Nisab. (2 Marks) Required: a) Calculate alms on agriculture assuming watering is without cost b) Calculate alms on agriculture assuming watering is with cost Q3. In your words, discuss why some fixed assets require alms to be paid while others do not. (1Mark).
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College of Administration and Finance Sciences

Course Name: Tax and Zakat Accounting
Course Code: ACCT 422

Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other...


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