Section C: Problem Solving (Total: 10 marks) Exercise 1 : uwned by Muslim shareholders is...
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Section C: Problem Solving (Total: 10 marks) Exercise 1 : uwned by Muslim shareholders is 330,000 units (at $1.50 ). that the company purchased the tooling equipm Company disclosed to the zakat authority trade creditors on credit and the tooling equipment amounting to $7.000 from one of their trade creditors. (iii) During the year, it was also disclosed it one of the to $5,000 and the supiers who agreed for the p that part of the stocks has been acquired from is fifth of the total Inventory. amount of debt bad debts for the year ended 2021 is expected to be 12% of the total and this provision has not been considered by the company. (a) Determine the zakat base and zakat payable based on the Net Current Assets method and Net Invested Fund method. (10 marks)
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