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re: Help with riddle - How Much Money Did The Store Lose?
Posted on 12/11/23 at 7:41 am to Seaux_cal_tiger
Posted on 12/11/23 at 7:41 am to Seaux_cal_tiger
How much money? 30 dollars.
How much potential money? 100 dollars (goods were paid for with stolen money, but stolen money was returned)
How much actual? No idea, need to know cost of goods sold.
How much potential money? 100 dollars (goods were paid for with stolen money, but stolen money was returned)
How much actual? No idea, need to know cost of goods sold.
Posted on 12/11/23 at 7:46 am to LSUcajun77
quote:
There’s no other way to slice it.
the store is out $100 and only $100.
doesn't matter if he used the same $100 bill or a different $100 or if somebody easel came in and used different money.
the $70 worth of good was paid for (does not matter how it was paid, just THAT it was paid).
so when they count the drawer it will be off by $100.
when they count inventory and sales, the numbers will match because money was given in exchange for goods.
Posted on 12/11/23 at 8:22 am to brmach
(no message)
This post was edited on 12/11/23 at 8:31 am
Posted on 12/11/23 at 8:22 am to Nutriaitch
I change my vote. The actual loss is $100. I derive this by stealing your answer.
Posted on 12/11/23 at 8:30 am to Seaux_cal_tiger
quote:
Even amongst the Accountants in our group there is disagreement
this is concerning.
Posted on 12/11/23 at 8:33 am to Sam Quint
No so concerning; from 1988
quote:
Even Seasoned Pros Are Confused This Year MONEY asked 50 tax preparers to figure one family's taxes -- and got 50 different answers.
Posted on 12/11/23 at 8:45 am to Seaux_cal_tiger
$100. That was the original loss
Anything after that is a standard transaction. No loss.
Anything after that is a standard transaction. No loss.
Posted on 12/11/23 at 8:47 am to Nutriaitch
quote:
the store is out $100 and only $100.
doesn't matter if he used the same $100 bill or a different $100 or if somebody easel came in and used different money.
the $70 worth of good was paid for (does not matter how it was paid, just THAT it was paid).
so when they count the drawer it will be off by $100.
when they count inventory and sales, the numbers will match because money was given in exchange for goods.
This. The wholesale cost of the goods is irrelevant as well. It's kinda funny how much overthinking happens with this riddle.
Posted on 12/11/23 at 9:03 am to Seaux_cal_tiger
quote:
This riddle was given to our team as part of an icebreaker before a meeting. We weren’t able to reach a consensus on the answer and here we are a week later and there is still some discussion about it. Even amongst the Accountants in our group there is disagreement. What say the OT?
Riddle:
A man steals a $100 bill from a store’s cash register. Then he buys $70 worth of goods at the store using the $100 he stole and he gets $30 in change back. How much money did the store lose?
I’ll post what our answers were after the OT has their shot at it.
The store did not lose nary a penny. If they are a viable retailer and have been open any length of time any and all such losses are made up in sells to paying customers. Some retailers will be more agressive in preventing such losses as a way to gain a competitive advantage but if someone steals a pair of shoes at any shoe store the only source of revenue from which the retailer can cover that loss is from paying customers...everyone who pays for their shoes is chipping if to cover the costs of the shoes stolen by the theiving bastard who stole them. Such losses are a cost of doing business just like paying the light bill in the store...the only source of revenue for the light bill is paying customers.
Posted on 12/11/23 at 9:04 am to Sam Quint
quote:
this is concerning.
Depends how far down the rabbit hole someone goes.
Posted on 12/11/23 at 9:06 am to AwgustaDawg
quote:
The store did not lose nary a penny. If they are a viable retailer and have been open any length of time any and all such losses are made up in sells to paying customers. Some retailers will be more agressive in preventing such losses as a way to gain a competitive advantage but if someone steals a pair of shoes at any shoe store the only source of revenue from which the retailer can cover that loss is from paying customers...everyone who pays for their shoes is chipping if to cover the costs of the shoes stolen by the theiving bastard who stole them. Such losses are a cost of doing business just like paying the light bill in the store...the only source of revenue for the light bill is paying customers.
A loss to shrinkage is still a loss

Posted on 12/11/23 at 9:07 am to Jcorye1
His was a prefect post to follow up my "overthinking" comment 

Posted on 12/11/23 at 9:08 am to Seaux_cal_tiger
The doctor is his mother.
Posted on 12/11/23 at 9:09 am to Seaux_cal_tiger
Your question is racist.
Posted on 12/11/23 at 9:09 am to Seaux_cal_tiger
-100 cash
+100 cash
-30 cash
-70 goods
So $100 total.
+100 cash
-30 cash
-70 goods
So $100 total.
Posted on 12/11/23 at 9:13 am to Locoguan0
What color is the paint?


Posted on 12/11/23 at 9:37 am to SaintEB

$5.91 in a just world:
Clerk lights him up with 3 rounds center mass, restocks the $70 worth of merchandise and returns the $30 cash to the till.
Based store owner re-imburses the clerk for the cost of his rounds which come to $39.46 / 20 = 1.97 per round x 3 = $5.91.
This post was edited on 12/11/23 at 9:38 am
Posted on 12/11/23 at 9:54 am to Nutriaitch
This is the answer Grok gave.
Posted on 12/11/23 at 9:55 am to Seaux_cal_tiger
Why is anyone saying $200? He gave the initial stolen $100 back.
Posted on 12/11/23 at 9:58 am to NOSTRODAMUS
quote:
Why is anyone saying $200? He gave the initial stolen $100 back.
Interesting he would have hurt the store worse by taking the $100 he stole and spending it elsewhere.
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