ACCT 422 Saudi Electronic University Accounting Worksheet


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College of Administration and Finance Sciences
Assignment (1)
Deadline: Saturday 21/07/2022 @ 23:59
Course Name: Tax and Zakat Accounting
Student’s Name:
Course Code: ACCT 422
Student’s ID Number:
Semester: summer
CRN: 50398
Academic Year: 1443 H
For Instructor’s Use only
Instructor’s Name: Rabab Farrash
Students’ Grade:
Level of Marks: High/Middle/Low
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
• 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
• 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 answers 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.
College of Administration and Finance Sciences
Assignment Question(s):
(Marks 10)
Q.1 Explain the following rules of Zakat:
1- The annual rule.
2- The rule of actual or assumed growth. (2 Marks )
Q.2 What money is eligible for Zakat and what is the conditions of obligatory alms?
Q. 3 If Ahmed’s wealth was calculated at the end of the month of Dhul-Hijah as follows:
Gold weighing 40 grams, gram price 50 riyals.
silver coins 1000 riyals
500 dinars, the exchange rate of the dinar 10 riyals
a current account with the Islamic Nation Bank of 6000 riyals
shares of 1000 shares, the market value of the share 5 riyals
an investment deposit with the Islamic Bank of Egypt 1500 riyals
investment certificates 2000 riyals
an amount in the savings book of 1000 riyals
and amount of 500 riyals cash
– What is the amount of zakat due by Ahmed? (3 Marks)
Q.4 What Accounting methods a natural person must use to record his transaction?
Explain the methods. (2 Marks) )

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