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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
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
74911 posts
Posted on 12/11/23 at 7:41 am to
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.
Posted by Nutriaitch
Montegut
Member since Apr 2008
9654 posts
Posted on 12/11/23 at 7:46 am to
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 by Mr. Misanthrope
Cloud 8
Member since Nov 2012
6052 posts
Posted on 12/11/23 at 8:22 am to
(no message)
This post was edited on 12/11/23 at 8:31 am
Posted by BestBanker
Member since Nov 2011
18190 posts
Posted on 12/11/23 at 8:22 am to
I change my vote. The actual loss is $100. I derive this by stealing your answer.
Posted by Sam Quint
Member since Sep 2022
6934 posts
Posted on 12/11/23 at 8:30 am to
quote:

Even amongst the Accountants in our group there is disagreement

this is concerning.
Posted by BestBanker
Member since Nov 2011
18190 posts
Posted on 12/11/23 at 8:33 am to
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 by HubbaBubba
North of DFW, TX
Member since Oct 2010
48729 posts
Posted on 12/11/23 at 8:45 am to
$100. That was the original loss

Anything after that is a standard transaction. No loss.
Posted by LNCHBOX
70448
Member since Jun 2009
86766 posts
Posted on 12/11/23 at 8:47 am to
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 by AwgustaDawg
CSRA
Member since Jan 2023
11166 posts
Posted on 12/11/23 at 9:03 am to
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 by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
74911 posts
Posted on 12/11/23 at 9:04 am to
quote:

this is concerning.



Depends how far down the rabbit hole someone goes.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
74911 posts
Posted on 12/11/23 at 9:06 am to
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 . This take is absolutely comical.
Posted by LNCHBOX
70448
Member since Jun 2009
86766 posts
Posted on 12/11/23 at 9:07 am to
His was a prefect post to follow up my "overthinking" comment
Posted by Zap Rowsdower
MissLou, La
Member since Sep 2010
14396 posts
Posted on 12/11/23 at 9:08 am to
The doctor is his mother.
Posted by Tantal
Member since Sep 2012
17612 posts
Posted on 12/11/23 at 9:09 am to
Your question is racist.
Posted by Locoguan0
Baton Rouge, LA
Member since Nov 2017
6142 posts
Posted on 12/11/23 at 9:09 am to
-100 cash
+100 cash
-30 cash
-70 goods
So $100 total.
Posted by SaintEB
Member since Jul 2008
23336 posts
Posted on 12/11/23 at 9:13 am to
What color is the paint?


Posted by Kjnstkmn
Vermilion Parish
Member since Aug 2020
15867 posts
Posted on 12/11/23 at 9:37 am to


$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 by GrizzlyAlloy
Member since Aug 2020
2581 posts
Posted on 12/11/23 at 9:54 am to
This is the answer Grok gave.
Posted by NOSTRODAMUS
Prairieville/Dutchtown
Member since Dec 2003
16608 posts
Posted on 12/11/23 at 9:55 am to
Why is anyone saying $200? He gave the initial stolen $100 back.
Posted by baldona
Florida
Member since Feb 2016
22390 posts
Posted on 12/11/23 at 9:58 am to
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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