guide to zakat on business calculation
DESCRIPTION
Learn how to calculate Zakat on Business with this slideshow. You can also watch the video of this presentation at http://www.youtube.com/zakatsgTRANSCRIPT
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Z a k a t o n B u s i n e s s
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Zakat
Zakat on Wealth Zakat Fitrah
Zakat on Savings
Zakat on Business
Zakat on CPF
Zakat on Insurance
Zakat on Shares
Zakat on Gold
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Zakat on Business
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Zakat on Business
HalalAssets
HALAL
Haul & Nisab
Full Ownership
ProductiveAssets
Business Intentions
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Step 1 Step 2 Step 3 Step 4 Step 5
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Step 1 Step 2 Step 3 Step 4 Step 5
Current Assets
Step 1
Calculate Current Assets
=Current Assets $
Cash in hand 3,000
Bank balance 5,800
Closing Stock 4,500
Trade debtors 1,500
Total Current Assets 14,800
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Step 1 Step 2 Step 3 Step 4 Step 5
Current Liabilities
Subtract Current Liabilities
Step 2
Subtract Current Liabilities $
Trade creditors 500
Accrued operating expenses 2,000
Total Current Liabilities 2,500
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Step 1 Step 2 Step 3 Step 4 Step 5Step 2
Subtract Current Liabilities $
Total Current Liabilities 2,500
Current Assets $
Total Current Assets 14,800
Net Current Assets $
Total Net Current Assets 12,300
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Step 1 Step 2 Step 3 Step 4 Step 5
Add donations, personal drawings and subtract
obsolete stocks
Step 3
+/Net Current Assets $
Total Net Current Assets 12,300
(+) Add Current Assets $
Donation in last quarter 500
Personal drawings 30,000
Adjustments
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Step 1 Step 2 Step 3 Step 4 Step 5
Adjustments
Step 3
(-) Less Current Assets $
Obsolete Stocks 1,000
+/
Total Net Assets due for Zakat 41,800
Net Current Assets $
Total Net Current Assets 12,300
Add donations, personal drawings and subtract
obsolete stocks
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Step 1 Step 2 Step 3 Step 4 Step 5
Multiply asset value
Multiply total net assets due for Zakat
by 2.5%
2.5%
Step 4
Total Net Assets due for Zakat 41,800
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Step 1 Step 2 Step 3 Step 4 Step 5
Percentage Muslim Ownership Share
Multiply with percentage of Muslim ownership
share of business
%
Step 5
Total Zakat:
$1,045