A guy walks into the store and steals $100 cash (riddle) - Page 2

  • Creator
    Topic
  • #1371768
    Accountant183748
    Participant

    Not sure if you’ve seen this going around but I thought it would be fun to ask here. It’s a fun little riddle that is driving some people crazy 😁

    A guy walks into the store and steals $100 bill from the register without the owner’s knowledge. He comes back 5 minutes later and buys $70 worth of goods with the $100 bill. The owner gives him back $30 in change. How much money did the owner lose?

Viewing 10 replies - 16 through 25 (of 25 total)
  • Author
    Replies
  • #1371999
    aaronmo
    Participant

    He's lost investable working capital, and, assuming the loss was reasonably declared, he has partial tax shield.https://www.another71.com/cpa-exam-forum/

    #1372065
    NikkiPhooh
    Participant

    Lol
    Wow!
    Has anyone ever come up with the correct answer?

    Took $ 100 gave it back and received cash $ 30 & goods $ 70
    So if you look at the question it asks how much money did the owner lose. Money/ Cash $ 30. If you think about the goods value ( $70 ) then total $ 100.00. Goods was not cash but could effect inventory down the line . Lol but that's really taking this cute little riddle too far. Make it simple he lost $30 in cash/ money.

    #1372067
    waffle_house
    Participant

    Yes I answered this question yesterday on a Facebook page. The amount of wrong answers baffled me. (Theif Takes $100 – gives back 100$) + ($30 from cashier + $70 goods he ran off with). Lets not make this complicated.

    Easily solved if you act it out lol. He loses $30 cash and $70 from sales.

    #1372134
    Spartans92
    Participant

    OMG, I even LOL (literally) when I saw your user @aaron.. A- ARON From Key and peele.

    BEC- PASS

    #1372160
    gigabyte2001
    Participant

    What did his insurance reimburse?

    B - 11/11/16
    A - 4/16/16 87!!
    R - 2/17/17
    F - 7/26/16 - Waiting for 8/23

    #1372172
    aaronmo
    Participant

    I don't think any insurance will reimburse a cash loss…it's too easy to fake and too hard to verify. Insurance application to risk should be for transactions with a relatively low chance of happening, but with large effect…so that the large impact can be spread out. The risk of cash loss to theft would be a fairly common risk you'd face with self insurance and controls.

    #1374917
    HarryKhan
    Participant

    Lets put it this way, for example if the cash register have $1000 in it, & the thief stole $100 and the owner is left with $900, correct? Ok. Thief bought $70 worth of groceries paying using the $100 bill that he stole and the owner gave $30 change to the thief, how much money left in the register? $970 right? So at the end of the day, the owner lost $130. I dont know if this is right hahaha

    #1375046
    Trele6
    Participant

    Has to be $100.. The till is short of the starting balance by the $100 taken. Him coming back in and buying something and legitimately paying for it is irrelevant. It's no different than had I walked in and paid $70 with a $100 bill. Its a valid transaction so no loss can occur on it. At the end of the day, and after all the transactions are totaled up the register will only be short by the $100 originally stolen.

    First go at the CPA! Only using Becker
    Reg / Nov 2015 - 87
    Far / Apr 2016 - 79
    Bec / May 2016 - 80
    Aud / Aug 2016

    #1440656
    helizabeth
    Participant

    The lady stole $100. She racked up a total of $70. Since she used the same $100 that she stole, she pretty much gave the store back $70. Leaving the $30 in change to be the loss. The answer is $30.

    #1440683
    Anonymous
    Inactive

    But isnt the owner at a -$70 position to begin with, since he is most likely reselling the goods? So -$70, loses $100, now at -$170, gets $100 back, now at -$70, loses $70 in goods that he cant recoup the costs on and since they were essentially bought again with his own money it puts him at -$140 and then he hands back the $30 netting him a loss of $170?

Viewing 10 replies - 16 through 25 (of 25 total)
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