accounting question and need an explanation and answer to help me learn.
Assignment Question(s):(15.0 Marks) Each Questions Carries 5 Marks)
A Zakat giver has an agricultural production at a market value of SAR 300,000. The zakat giver has no accounting books to count the actual production expenses. Assume the zakat receptacle reached the Nisab.
A Zakat giver has a commercial building that generated an annual income of SAR 200,000 and incurred actual expenses of SAR 50,000. The book value of the building is SAR 75,000 while its market value is SAR 150,000.
A Single Taxpayer In USHas The Following Information:
Required:
What is the zakat due in case of watering without cost?
What is the zakat due in case of watering with cost?
Answer:
Required: What is the zakat due?
Answer:
Item
US$
Gross Income
500,000
Exclusions
50,000
Deductions For Gross Income
100,000
Itemized Deductions
5,000
Standard Deduction
6,100
Personal Exemptions
3,900
Dependency Exemptions
3,900
Prepayments
75,000
Required: Compute The Tax Due Assuming the Tax Rate Is 20%.
Answer:
Requirements: your on word
Assignment 2
Deadline: 18//2/2023 at 23.59 pm
For Instructors Use only
Notes:
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 answered 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 Question(s): (15.0 Marks) Each Questions Carries 5 Marks)
A Zakat giver has an agricultural production at a market value of SAR 300,000. The zakat giver has no accounting books to count the actual production expenses. Assume the zakat receptacle reached the Nisab.
Required:
What is the zakat due in case of watering without cost?
What is the zakat due in case of watering with cost?
Answer:
A Zakat giver has a commercial building that generated an annual income of SAR 200,000 and incurred actual expenses of SAR 50,000. The book value of the building is SAR 75,000 while its market value is SAR 150,000.
Required: What is the zakat due?
Answer:
A Single Taxpayer In US Has The Following Information:
Required: Compute The Tax Due Assuming the Tax Rate Is 20%.
Answer: