كلية العلوم الادارية والمالية|
Assignment 2
Deadline: 27/5/2023 at 23.59 pm
Course Name: Tax And Zakat Accounting
Student’s Name:
Course Code: ACCT 422
Student’s ID Number:
Third Semester
CRN:
Academic Year: 1444 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained /Out of 15
Level of Marks: High-Middle-Low
marks
Notes:
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The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
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Assignments submitted through email will not be accepted.
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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.
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Students must mention question number clearly in their answer.
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Late submission will NOT be accepted.
كلية العلوم الادارية والمالية
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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.
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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).
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Submissions without this cover page will NOT be accepted.
Assignment Question(s):
(15.0 Marks) Each Questions Carries 5 Marks)
2. The following information is about a commercial building owned by zakat giver:
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Generated annual income SAR 300,000
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Incurred actual expenses SAR 70,000
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Long term liabilities SAR 50,000
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Short term liabilities SAR 30,000
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The book value of the building SAR 100,000
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Market value of the building SAR 500,000.
Renquired: What is the zakat due?
كلية العلوم الادارية والمالية
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2. Give a comprehensive numerical example for calculating income tax for an individual taxpayer in
United States
Answer:
Student’s answers may vary
كلية العلوم الادارية والمالية
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3. Explain filing status in US income tax law and rank them form lowest to highest relative tax
liabilities
Answer:
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Title Page
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