Towards A Unified Zakat System

Balance Sheet 31-12-19X230-12-XXX130-12-XXX2££££FixedAssetsLand 400,000Long term invested 100,000350,000150,000Buildings 900,000Accumulated Depreciation (200,000) 700,0001,200,0001,000,000(300,000) 700,0001,200,000CurrentAssetsDebtors 40,000 30,000Stock 200,000 250,000Short term investment 20,000 20,000Cash 100.000 110,000360,000 410,000Total Assets 1,560,000 1,610,000Liabilities and Owners' EquityAmounts Falling Due Within One YearCreditors 40,000 50,000Notes Payable 30,000 20,000Accrued Expense 30,000 5,000100,000 75,000Working Capital 260,000 335,000Amounts Falling Due WithinMore than One YearBank Loan 300,000 300,000FinancedBy:Paid in Capital 1,000,000 1,000,000Retained Profit 110,000 195,000General Reserves 50,000 40,000Total Liabilities and Equity 1.560.000 1,610,000Profit and Loss Account for the Year Ending 31.12.19X2Revenue 900,000Cost of Revenue -(600.000)Gross Profit 300,000Expenses 175,000Net Profit 125,000The market value of stock at the end of 19X2 was £300,000.The MV of short term invest at the end of 19x2 was £40,000148