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Forum » 97% of College Kids Cant Answer this Basic Question Correctly
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Thread: 97% of College Kids Cant Answer this Basic Question Correctly

post 1473999621 12-06-2016, 11:19 AM
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How about the PROFIT he made from the $70 transaction with the thief!?! What if he made $60 profit from that transaction?? How come you're not counting that? No wonder you're a fukkin tradie digging ditches all day. Your small mind can't comprehend such things as PROFITS. All you think about is going to the nearest watering hole and pounding some beer so you can drown your sorrows and miseries away, you miserable fukk! LMAO!
Originally Posted By THATSfunnyOP⏩
Becausehe'scash register at the end of the day is still 100$ short u fukface.

How can u not see that?
post 1473999671 12-06-2016, 11:19 AM
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After thinking about this more the store did in fact lose $100 cash and that's it. The item was paid for whether or not the money was stolen from the drawer is irrelevant.

When they do their books/audit whatever they want to do everything will be kosher except for the fact the end of day cash balancing will be off $100.00 cash


Edit: becomegreen you're wrong bro
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post 1474000111 12-06-2016, 11:22 AM
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Are we going to see the definitive, correct answer, or are we going to continue twindling our thumbs?
post 1474000141 12-06-2016, 11:22 AM
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Originally Posted By becomegreen⏩
How about the PROFIT he made from the $70 transaction with the thief!?! What if he made $60 profit from that transaction?? How come you're not counting that? No wonder you're a fukkin tradie digging ditches all day. You're small mind can't comprehend such things as PROFITS. All you think about is going to the nearest watering hole and pounding some beer so you can drown your sorrows and miseries away, you miserable fukk! LMAO!
Lol at you highlighting my mistakes. I'm on mobile and it''s autoxorrecting everything wrong. I have like 5 other mistakes in there. To bad your small mind didn't catch on those.
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post 1474000291 12-06-2016, 11:24 AM
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Originally Posted By Fooly⏩
Are we going to see the definitive, correct answer, or are we going to continue twindling our thumbs?
The definitive correct answer is the store lost $100 cash, everything else will balance on the books except the cash drawer will be off $100.00 - The purchase was "fine" cash was exchanged for goods the cash being stolen from the store is irrelevant to the question.
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post 1474000671 12-06-2016, 11:26 AM
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Originally Posted By ssg10587⏩
He made $0 worth of profit since he sold $70 worth of goods for $70 of stolen money -> -70 (stolen) + 70 (thief paid)

$70 of goods storeowner lost + $30 in stolen change from storeowner = $100 lost
Yeah exactly he made 0 profit on goods that were worth $70. If you own a phone that you can sell on ebay for $100 and I take $100 out of your wallet and buy said phone from you with that $100 I took out of your wallet, by your logic you didn't lose anything lmao.
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post 1474000681 12-06-2016, 11:27 AM
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Originally Posted By JoshSP1985⏩
After thinking about this more the store did in fact lose $100 cash and that's it. The item was paid for whether or not the money was stolen from the drawer is irrelevant.

When they do their books/audit whatever they want to do everything will be kosher except for the fact the end of day cash balancing will be off $100.00 cash


Edit: becomegreen you're wrong bro
Thank you. He is not able to grasp this. I've workd hands on (twig/php) with the leader in cloud based cash register software that processes more than 10 billion annually (register software only, they are not a payment processor). Involved in crucial projects with key clients paying up to half a million a year annually for these services for their stores across America. I know what I'm talking about when it comes to sales/transactions.
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post 1474000741 12-06-2016, 11:27 AM
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I can't believe how dumb people are in this thread wow lol

The riddle is straight up and down, there is no extra to it. Again people are misinterpreting it because of the grammatical errors shown here,
Originally Posted By 300BLK⏩
You know why this riddle is confusing? Because there's no fuking comma between, "He comes back 5 minutes later and buys $70 worth of goods with the $100 bill the owner gives him $30 in change,"

It looks like there should be a comma here (in bold), "He comes back 5 minutes later and buys $70 worth of goods with the $100 bill,the owner gives him $30 in change,"
Or at least a period should be there to make it clear it is a separate exchange. If you separate the sentence there, then you're saying the owner loses $100, because the thief bought $70 worth with the $100 bill he stole, and then the owner gives him $30. Otherwise there are multiple ways to interpret that sentence because it is not correctly structured.
The answer is $100
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post 1474000851 12-06-2016, 11:27 AM
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The question asked how much money did the owner lose so you will have to include the profits he made from the $70 transaction.
Originally Posted By THATSfunnyOP⏩
Lol at you highlighting my mistakes. I'm on mobile and it''s autoxorrecting everything wrong. I have like 5 other mistakes in there. To bad your small mind didn't catch on those.
post 1474001111 12-06-2016, 11:30 AM
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Originally Posted By becomegreen⏩
The question asked how much money did the owner lose so you will have to include the profits he made from the $70 transaction.
The thief paid with the owner's money, so the owner is still losing. In what way is that complicated?
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post 1474001241 12-06-2016, 11:31 AM
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Originally Posted By JoshSP1985⏩
The definitive correct answer is the store lost $100 cash, everything else will balance on the books except the cash drawer will be off $100.00 - The purchase was "fine" cash was exchanged for goods the cash being stolen from the store is irrelevant to the question.
A man walks into the store and steals items totalling $70 retail price. Has the store lost $70 or have they really only lost whatever they paid for those goods?

The cash register balance only takes into account what they charge for an item, the actual financial books of the business will deduct cost of sale at the end to get gross profit.
post 1474001331 12-06-2016, 11:31 AM
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Originally Posted By becomegreen⏩
The question asked how much money did the owner lose so you will have to include the profits he made from the $70 transaction.
Why? The item was paid for. There is nothing wrong with the transaction it is a complete transaction sale was made, payment was received. Bro I oversee an AR department and deal with cash balancing daily. If someone stole 20 bucks out of our cash drawer and paid for an item with it EVERYTHING would be just fine except the cash drawer at end of day balancing would be off $20.00. The only thing stolen from the store is the $100 thus the only thing the store lost was $100
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post 1474001451 12-06-2016, 11:32 AM
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We both agree that the owner lost money. You're saying he lost $100. I'm saying he lost $100-(the profits he made with the $70 transaction). That's where we differ.
Originally Posted By 300BLK⏩
The thief paid with the owner's money, so the owner is still losing. In what way is that complicated?
post 1474001471 12-06-2016, 11:32 AM
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Originally Posted By becomegreen⏩
The question asked how much money did the owner lose so you will have to include the profits he made from the $70 transaction.
>How much did he lose
>How much profit did he make

pick one. You're not making any sense .. this isn't about what his company net gained overall after a robbery.
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post 1474001581 12-06-2016, 11:33 AM
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Originally Posted By becomegreen⏩
The question asked how much money did the owner lose so you will have to include the profits he made from the $70 transaction.
this is a good point, he should start giving everybody money when they come in the store cuz they will buy more stuff if they don't have to use their own money so he will make more profits, every store should do this really brb give everybody $1000 then they buy $700 worth of stuff=$300 pure profit on every customer---> CEO 10k/day
post 1474001641 12-06-2016, 11:33 AM
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Originally Posted By likeawashboard⏩
A man walks into the store and steals items totalling $70 retail price. Has the store lost $70 or have they really only lost whatever they paid for those goods?

The cash register balance only takes into account what they charge for an item, the actual financial books of the business will deduct cost of sale at the end to get gross profit.
Money was stolen not goods. In the question in the OP $100 cash was stolen so the store lost $100. In your example goods were stolen so you would be out the COST of the item (whatever that is).

If the question was $70 item was stolen how much did the store lose you would have to know markup on the item to answer the question but goods were NOT stolen CASH was stolen. The store owner is out whatever was stolen. If cash was stolen he's out cash. If goods were stolen he's out cost of goods.
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post 1474001691 12-06-2016, 11:34 AM
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Wow at this thread... guess 97 percent of miscues can't get it either.
post 1474001701 12-06-2016, 11:34 AM
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He lost 100 dollars from theft, he got 100 dollars from thief, he gave away 70 dollars worth of goods and 30 worth of change. So in the end, he is -100 dollars. Now if we strictly speak about the money involved and not include the goods, he lost 100 dollars from theft, got 100 dollars from thief, gave away 30 dollars for change, so he is -30 dollars.
post 1474001881 12-06-2016, 11:35 AM
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I get what you're saying that the store lost was $100. I got you. If the thief never came back then that is correct. But the thief DID come back and the store was able to make a profit off of him. That's where we differ. Does the profit count or not. Let's say the store made $50 profit off of the thief. Then in essence the store "stole" $50 back from him. So I would calculate that.
Originally Posted By JoshSP1985⏩
Why? The item was paid for. There is nothing wrong with the transaction it is a complete transaction sale was made, payment was received. Bro I oversee an AR department and deal with cash balancing daily. If someone stole 20 bucks out of our cash drawer and paid for an item with it EVERYTHING would be just fine except the cash drawer at end of day balancing would be off $20.00. The only thing stolen from the store is the $100 thus the only thing the store lost was $100
post 1474002111 12-06-2016, 11:37 AM
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Originally Posted By becomegreen⏩
I get what you're saying that the store lost was $100. I got you. If the thief never came back then that is correct. But the thief DID come back and the store was able to make a profit off of him. That's where we differ. Does the profit count or not. Let's say the store made $50 profit off of the thief. Then in essence the store "stole" $50 back from him. So I would calculate that.
Obviously the store is going to continue to make money whether that 100 came from the theif or a new customer
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post 1474002351 12-06-2016, 11:38 AM
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$170.

Are people seriously this retarded? You have to count the $70 in goods because that would have been $70 of cash if person B legit bought the same items. So he ran off with $100 and $70 in goods.
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post 1474002531 12-06-2016, 11:39 AM
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Originally Posted By WSG1⏩
$170.

Are people seriously this retarded? You have to count the $70 in goods because that would have been $70 of cash if person B legit bought the same items. So he ran off with $100 and $70 in goods.
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post 1474002651 12-06-2016, 11:40 AM
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Originally Posted By wilduglylurker⏩
He lost 100 dollars from theft, he got 100 dollars from thief, he gave away 70 dollars worth of goods and 30 worth of change. So in the end, he is -100 dollars. Now if we strictly speak about the money involved and not include the goods, he lost 100 dollars from theft, got 100 dollars from thief, gave away 30 dollars for change, so he is -30 dollars.
/thread

When you include the words goods, change, and dollar bill, that's what makes the difference. Otherwise, if you were doing pure math in the form of money, then you'd go with the latter.
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post 1474002731 12-06-2016, 11:41 AM
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Yes so in essence the store is "stealing" from people little by little. This is called profit/making money. It doesn't come out of thin air.
Originally Posted By MuckSnapper⏩
Obviously the store is going to continue to make money whether that 100 came from the theif or a new customer
post 1474002781 12-06-2016, 11:41 AM
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Now I'm questioning myself.

I think we just need to look at the end result of what left the store.

$100 cash out (offset)
$100 cash in (offset)
$30 cash out
$70 goods out

So end of the day the store is out $30 cash and a $70 item so they're out $30 cash and the COST of the $70 item. In other words we can't answer the question because we don't have enough information(profit margin)

So in theory it's actually better from a loss standpoint that the theif bought something with the stolen money as the item has a markup so the store owner is only out the cost of said item.
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post 1474002891 12-06-2016, 11:42 AM
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Originally Posted By becomegreen⏩
We both agree that the owner lost money. You're saying he lost $100. I'm saying he lost $100-(the profits he made with the $70 transaction). That's where we differ.
I can see both of the answers that he lost just $100 cash, and that he lost $100 including goods being technically right, but yours just makes no sense at all.
post 1474003081 12-06-2016, 11:43 AM
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Originally Posted By MuckSnapper⏩
I know. Help me articulate why.
$200 in cash register (example random figure)
$10 worth of product (wholesale cost)($70 retail cost > $60 profit)

Business is worth $210

Thief steals 100 from cash register > $200-100 = $100

Business is now worth $110

Thief comes back in and purchases $70 worth of goods (retail price)(wholesale price $10) and is given $30 in change.

There is now $170 in the cash register and less $10 worth of goods (what the business actually paid).

Business was worth $210 at the beginning, now it is worth $170. So the answer is is cost the business owner $30 plus cost of goods, in this scenario $10.

People are getting confused because when you ring items onto your cash register, it gets added on at retail price. They are forgetting that financial books deduct cost of sale to get gross profit at the end of the year.
post 1474003351 12-06-2016, 11:45 AM
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Originally Posted By likeawashboard⏩
$200 in cash register (example random figure)
$10 worth of product (wholesale cost)($70 retail cost > $60 profit)

Business is worth $210

Thief steals 100 from cash register > $200-100 = $100

Business is now worth $110

Thief comes back in and purchases $70 worth of goods (retail price)(wholesale price $10) and is given $30 in change.

There is now $170 in the cash register and less $10 worth of goods (what the business actually paid).

Business was worth $210 at the beginning, now it is worth $170. So the answer is is cost the business owner $30 plus cost of goods, in this scenario $10.

People are getting confused because when you ring items onto your cash register, it gets added on at retail price. They are forgetting that financial books deduct cost of sale to get gross profit at the end of the year.
Right so you literally can't answer the question without knowing the markup on the item.
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post 1474003461 12-06-2016, 11:46 AM
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100 dollars plus the cost of the stuff he bought it with
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post 1474003551 12-06-2016, 11:47 AM
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Originally Posted By cardioman_23⏩
100 dollars plus the cost of the stuff he bought it with
The $100 is back in the drawer. The net out for the store owner is the item + the $30 change he gave.
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