Calculating zakaat

Q: On the 1st of Ramadan I had £30,000, by the end of that year I had £15,000 - do I give zakat on £30,000 or on £15,000?

Q: I have given a loan to my cousin and he promised to pay me back in two months time. His financial condition is not good and he will pay late. Can I adjust it through my Zakaat money, by asking him not to pay back?

Q: If a person has a huge loan that he has to pay monthly, does zakaat become obligatory on the gold jewellery that is under his possession.

Q: My family members and I have always (since I have had to pay, i.e. 7 years) been paying zakaat in Ramadhaan, although we are suppose to pay our zakaat in other months. We have also been calculating zakaat in Ramadhaan. What do I do to rectify the situation?

Q: My question is that does the business subtract Long term Liabilities when doing the zakaat calculation e.g. a loan of R2 million financed through the bank to purchase fixed assets and property.

Q: When calculating zakaat, Will it be valid if I estimate how much money is in my bank instead of getting the actual figures? I have an idea of what is in it.

Q: Is it permissible to first convert all items (Like Gold, Jewellery, Stones and Merchandise in the shop) in cash and then pay 2.5% of it?

Q: I'm currently calculating my Zakaat, and would like clarity on the following 3 points:

Q: Will zakaat be discharged by offsetting a debt with the intention of zakaat?

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?