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
Z a k a t o n B u s i n e s s
Zakat
Zakat on Wealth Zakat Fitrah
Zakat on Savings
Zakat on Business
Zakat on CPF
Zakat on Insurance
Zakat on Shares
Zakat on Gold
Zakat on Business
Zakat on Business
HalalAssets
HALAL
Haul & Nisab
Full Ownership
ProductiveAssets
Business Intentions
Step 1 Step 2 Step 3 Step 4 Step 5
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
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
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
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
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
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
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