Question

thQ3: A zakat payer has the following information: (2.5 marks)

Investment assets valued at market value	SR 200,000
Investment assets valued at book value	SR 120,000
Revenues generated from those investment assets for the year	SR 50,000
Actual expenses of getting those revenues	SR 10,000
Saving accounts at banks	SR 50,000
Short term debts due next year	SR 30,000
The Price for the Gram of pure gold is SR 150	SR 150
The price for one gram of silver	SR 3

Required: calculate alms due.

alms = Donations

Answer:

plz no handwriting or pic

Thank you

Answer 1

Answer: Calculations for zakat or alms due for the one lunar year:

Particulars Amount

Add Assets:

1. Market value of investment on assets = SR 200,000 ( zakat is always calculated on market value of the investment)

2. Return on Investment or Revenue = SR 50,000 ( Revenue increases the wealth so, its deductible for zakat)

3. Cash at Bank = SR 50.000

4. Gold (Above 85grams are deductible) = SR quantity not mentioned

5. Silver 1gram (Above 612.36grams are deductible) SR Nil

Total SR 300,000

Minus Liabilities And Expenses:

6. Expenses= SR 10,000

7. Short term debt due for next year = SR 30,000  

Total= SR 40,000

Therefore formula for calculation alms is = total wealth/share cash X 2.5%

= total wealth is equal to = total assets - total liabilities

= SR 300,000- SR 40,000

Total wealth =SR 260,000

Alms = SR 260,000 X 2.5% = SR 6,500

OR

SR 260,000 X2.5/100 = SR 6,500

The total amls or donation due for the current lunar year is SR 6,500