1. Following are the details of Mr. X's business income for the year ended 2014 Cash...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1. Following are the details of Mr. X's business income for the year ended 2014 Cash at Bank Cash in Safe Goods 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 SR 30,000 SR 25,000 SR 50,000 SR 100,000 SR 100,000 SR 200,000 SR 50,000 SR 100,000 SR 50,000 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 1. Following are the details of Mr. X's business income for the year ended 2014 Cash at Bank Cash in Safe Goods 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 SR 30,000 SR 25,000 SR 50,000 SR 100,000 SR 100,000 SR 200,000 SR 50,000 SR 100,000 SR 50,000 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
Expert Answer:
Answer rating: 100% (QA)
Answer Zakat on Trading and Industrial Wealth Mr Xs business income for the year ended 201... View the full answer
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
Posted Date:
Students also viewed these accounting questions
-
The net income for the year ended December 31, 2015, for Oliva Company was $1,900,000. Additional information is as follows: Depreciation on plant...
-
Statement of Comprehensive Income for the year ended 31 December 2010 Debit RM Credit RM Freehold land at cost 4,600,000 Building at cost 9,000,000 Plant and equipment at cost 5,800,000 Motor...
-
The following are the details of two potential merger candidates, Northrop and Grumman, in 1993 Northrop Grumman Revenues $4,400.00 $3,125.00 Cost of Goods Sold (w/o Depreciation)87.50% 89.00%...
-
You are attempting to arrive at what the monthly rate of change that has recently occurred in the real estate market. In doing some market research, you find two properties that have sold twice...
-
What are the assumptions underlying the multiple regression model? What is the purpose of the assumption of normality of the errors?
-
Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $254,500, terms n/30. The cost of the merchandise sold is $152,700. Showcase Co. issues a credit memo for $30,000 for...
-
If among \(n\) objects \(k\) are alike and the others are all distinct, the number of permutations of these \(n\) objects taken all together is \(n ! / k !\). (a) How many permutations are there of...
-
Patriot Co. manufactures and sells three products: red, white, and blue. Their unit sales prices are red, $74; white, $108; and blue, $99. The per unit variable costs to manufacture and sell these...
-
Bonita Industries sells two types of computer hard drives. The sales mix is 30% (Q-Drive) and 70% (Q-Drive Plus) based upon quantity of units sold. Q-Drive has a unit variable cost of $100 and a...
-
From the data 1,4, 5, 3, 2, 5, 7, 3, 4, and 5, Poindexter created the following frequency table. What five things did he do wrong? f- 013589 f- 11223|-| 123457
-
Analysis why decathlon, Singapore choose Narrow aisle and Selective Pallet system. Narrow Aisle Pallet Racking quick order-picking and fast accessibility to every pallet space-saving FIFO handling...
-
Which accounting principle dictates using accounting rules that will result in less revenues/assets, or higher liability when choosing among acceptable accounting rules?Changing accounting principles...
-
1. What is the basic of aircraft structure 2. What are the different types of aircraft structure repair
-
A steel bar that has a rectangular cross-section of 0.4 inches by 0.5 inches. The bar is 3 inches long and subjected to a load of 45000 lbf that is parallel to its length. What is the resulting...
-
6) A natural wooden beam in your basement is placed horizontally. It is under transverse load in vertical direction. Why sometimes there may appear a horizontally running crack in the wood beam as...
-
7. List three advantages when using radiography as a non-destructive testing method. (3 marks) 8. List three limitations when using radiography as a non-destructive test method. (3 marks) 9. What are...
-
You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...
-
What are business process risks?
-
Burns Company's 2009 and 2008 balance sheets presented the following data for equipment: During 2009, equipment costing $35,000 with accumulated depreciation of $30,000 was sold for cash, producing a...
-
Bill and Steve recently formed a company that manufactures and sells high-end kitchen appliances. The following are a list of activities that occurred during the year. a. Bill and Steve each...
-
Consider the situation illustrated in Figure 25. 11. A positively charged particle is lifted against the uniform electric field of a negatively charged plate. Ignoring any gravitational interactions,...
-
A positively charged particle is moved from point A to point B in the electric field of the massive, stationary, positively charged object in Figure 25. 12. (a) Is the electrostatic work done on the...
-
Two metallic spheres A and B are placed on nonconducting stands. Sphere A carries a positive charge, and sphere B is electrically neutral. The two spheres are connected to each other via a wire, and...
Study smarter with the SolutionInn App