Wealth decreasing before the zakaat date
Q: What is the mas’alah regarding a person whose wealth decreased before the zakaat date?
E.g. Bakr possessed R1 000 000 throughout the year. Just before the end of his zakaatable year i.e. 1st of Ramadhaan, he suffered a loss of R900 000 in his business. Will Bakr now have to pay zakaat on R1 000 000 or R100 000?