Quonton M.
asked • 12/02/16Math problem
I had $100 stolen from my register five minutes later the thief came in with the same hundred dollar bill and bought $70 worth of products I gave him $30 in change back how much did I lose in total
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1 Expert Answer
Ourania R. answered • 12/02/16
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5
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Tutor with a background in Computer Science
You lost $100 in total.
Although you seemed to have gaied $70 back, the theif did not just give you that money, instead, they exchanged it for an item worth $70.
Quonton M.
You just settled a huge fb debate I was having on my page lmao I said 100 to begin with! i just needed your official answer for a screenshot
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12/02/16
Ourania R.
That's terrific! In case there are more doubters...after all, fb is great for ongoing debates...you can use the logic that if someone else were to come into the store and buy an item, they would not be 'giving' you money, instead, they would be exchanging it for a product/service. :)
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12/02/16
Shana T.
This is wrong. the answer 200.
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12/03/16
Vanessa L.
100 because they gave the $70 back in exchange for $70 worth of merchandise then they got the $30 in change back.
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12/03/16
Misty G.
How is the answer not $170? If they stole $100 and then "bought" $70 worth of your merchandise with your own $ (because they stole the $ from your register) AND you gave them back $30 (this is from the original $100 so it wasn't anything extra like the merchandise)... wouldn't bag equal the $100 from the register plus the $70 of merchandise being a loss?
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12/06/16
Kristen H.
I think it's easier to think of problems like this is smaller terms:
If you stole $1 from someone's store, than bought a $1 item, how much did they lose total? They got their dollar back, but you're leaving with a dollar's worth of nerchandise. So, they're only out of the merchandise you purchased. $1.
In the question above, the merchant us out of $70 merchandise and the $30 in the thief's pocket. $100.
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12/06/16
Linden L.
100 was stolen.... set that to teh side and forget about it... its gone..... now someone walks in the store and buys $70 worth of items and gives you 100... you give them back 30.... even exchange...... so you only lost the original 100 that was stolen since the other items were bought have a receipt and cash to show for it.
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12/06/16
D J.
But they asked how much money he lost why wouldn't the answer be $60
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12/06/16
Miranda S.
Ok so if your working at a register at the end of the night how much is that drawer gonna be short? They took out the 100 ok then they came back and bought something for 70 dollars. So now your register is short 130 dollars because you just gave them 30 dollars in change but then you check your books and your short 200 dollars cuz they basically got the merchandise for free. So im going with 200.
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12/06/16
Kristina W.
The answer is $200
Let's look at it this way
I come to your house
And I steal your TV
I come back and sell your TV back to you
How many times have you purchased your own TV?
You're just happy you have your TV back though right?
Not to mention the thief now has your money
In the future, if someone steals something from you and purchase something from you that you already bought using your money that is not half a loss
Its a double loss
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12/08/16
James S.
So let's just say the register it was stolen from had 200 in it. You steal 100 from it, the register still thinks there's 200 in it. He buys 70 dollars worth of stuff, disregard the change. Now the register thinks there's 270 in it when really there is only 170 in it. At the end of the night the deposit is going to be 100 dollars short and he's out that 70 dollars worth of items.
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12/09/16
James H.
Good grief. It's 100 dollars.
Let's say 200 was in the register. Guy takes 100. Now you have 100 in the register. He buys clothing worth 70 dollars. Gives you the hundred back. Now you're back to 200 in the register. You give him 30 as change. Now there is 170 dollars in the register. You have lost 30 dollars plus the 70 in merchandise. You're out 100 dollars.
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12/19/16
Aaron L.
The questill that is asked is how much did the owner lose. If you value inventory as well as money the answer is $200. But if you want to operate that this is not a real register not in a real store he only loses $100. Its all how you interpret the scenario.
most people who have owned a business think about expenses and income. Whether or not you believe it an owner has to purchase items in order for them to be sold. So if you believe this to be true you have to assume that the $100 dollars that was stolen was also income. See people don't fathom this right away, this $100 dollars represents two things, a hundred dollar bill and also a hundred dollars of inventory that left the store. In essence I view that $100 dollars as $200 dollars worth of inventory and cash. Regardless of what he does after, because he lost a 100$ bill and lost the inventory that 100$ bill generated which put that bill in the register. $200 dollars is undeniable.
or just assume it was some kid steeling it out of someone's pocket and giving it back 70$ it don't matter. but I assume the story matters so that's why $200 is correct.
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01/13/17
Michelle A.
The answer is $170... Why does everyone keep adding the $30...
You stole my $100.. .then come and take $70 worth of items and pay with that same stolen money.. so in reality.. you stole the $100 and then $70 more stuff.. because it was never the thieves money in the first place.. How can you add was is stolen??>?
-$100
-$70.. forget about change.. its change from the first stolen monies...!!!
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01/13/17
H W.
It's 100 lost
Look at it like this. Thief decides to return what he stole. Thief returns what? 70 dollars in merchandise and 30 dollars in cash. Meaning the business was down 100 total. Lol
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01/13/17
Estrella P.
It's $100. It's simple, the thief took $70 worth in products and received $30 in change. Same $100 bill with a different final exchange .
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01/13/17
Casey L.
Wow people it's $100
Lets forget about there being a thief this is the same thing:
Register Calculations
At the start of my business day I have $200 in my register before I even open. I take $100 out and buy $70 worth of my own stuff with that $100 and give myself back $30 in change that I don't put back in the register.
Starting total = $200
Money Taken = $100
Current Register Balance $100
What should be the balance $200
Transactions of +$70
Current Register Balance = $100 + $70 = $170
What should acutal balance be = $200 + $70 = $270
But I used a $100 note the same one I took which means if I stop here Ive lost absolutely nothing if I dont take anything from the store or from the register but I have to give $30 change.
Change = - $30
Current Register Balance = $170 - $30 = $140
What should be the actual balance = $270 - $30 = $240
(Notice how in both these calculations the difference has remained at $100)
Now I take my stuff and think to myself Im not going to open shop today and I go home, before I go I tally my register the register shows I made +$70 in sales and gave -$30 in change so there should be a profit of $40 in the register. Which means there should be $240 cause I know I started with $200 but when I counted the register there is only $140. Then I remember I took $100. So I'm only short the $100 I originally took becausd I paid for the stuff I bought. How do I know that cause after the transaction was made the difference between What I have and what I should have is exactly $100.
Current Register Balance $140
What Should be in the register $240
$140 - $240 = $100
The goods don't matter because their value was put into the register! Also if your really wanted to get down to it... It's acutally less than $100 causea store doesnt buy a pair of socks for $100 dollars and then sell them to someone else for $100 that wouldn't make any profit! So what I paid for the products is more then they were worth. Which means I only lost what it cost to buy the socks in the first place to be able to sell them
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01/13/17
Casey L.
^^^^ With my post above I did the calculation wrong cause I was given a $100 note but the outcome is still the same.
CB( Current Balance) $100
SB (Should be balance) $200
Transaction + $70
$100 Note Given
CB = $100 + $100 (note given before change)
SB = $200 + $100
Change = $100 (note given) - $70 Transaction = $30
CB = $200 - $30 = $270
SB = $300 - $30 = $370
(Goes to show that even no matter if I made a mistake no matter what if a transaction is made and the correct change is given the difference DOESNT change)
End of day total:
CB $270 - SB $370 = - $100
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01/13/17
Ricardo H.
Its $100:
Change merchandise into money in the till, you have 100 70 and 30.
100-stolen
70-merchandise
30-change
Take the 100 and till has 70 and 30. Return to purchase the 70 and get the 30 as change 100 goes back in till 70 and 30 come out what should be 200 in a new form is simply 100
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01/14/17
Adam C.
The answer is $0. the person works for the store and the store lost the money
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01/14/17
Vince G.
People are forgetting profit and cost the shirt could've cost him 50% in wholesale and retail cost him $70 for sale so what does he the owner really lost in actuality is $65
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01/14/17
Gregory D.
There is not enough info to say for sure, the owner lost 100 but then got it back right? The $70.00 worth of merchandise was the retail value of the goods but the owner undoubtedly paid less than 70.00 for the goods so the amount the owner actually lost is the actual price he paid for the $70.00 iof goods, plus the 30.00 of real cash so the actual loss to the owner is unknown. The answer is "unknown" LOL!
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01/14/17
Keith W.
Answer is 170 total cash and product loss. Count register and you will come up 100 dollars short and 70 dollars in product short.100+70=170. If the thief went to another store then the store owner would have been at a 100 dollar loss.
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01/15/17
Kelly J.
Remember the thief stole $100.00 that's all he or she stole. The hundred dollar now has a new owner which is the thief. The thief now comes and makes a purchase with their $100.00 which is a legitimate transaction. So the answer is whatever was stolen which is $100.00
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01/15/17
Gregory D.
This is great question, I believe the PC answer is $100.00. However, I still say unless you know how much the owner "actually" paid for the $70.00 " retail" worth of goods, you have to say the answer is unknown. If the question was "What was the total retail loss to the store" now that is clearly $100.00. IJS.??
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01/15/17
Ed W.
if you come up with anything but $100
take 100 dollar bills on a table and a $1oo dollar bill onthe same table seal the 100 bill
then buy the 1 dollar bills with the 100 dollar bill stick them all in your pocket. if you have more than 100 dollars,
i want to get to know you.
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01/15/17
Skye T.
I don't understand how some of you did your math. Its $100 in monetary loss, and $70 inventory loss. So, if they just want to know how short the register will be, its $100. But if they want the short AND the product loss, its $170. Everybody keeps saying, "oh we need to know how much the owner paid for the merchandise in order to know how much was REALLY lost." Thats flat out ridiculous. Even if the owner bought the merchandise at $25 total, for example, people were still buying the items at the listed price ($70), so the owner lost money paid for the product and any potential profit.
Now, if somebody steals a hundred dollar bill out of the register, the whole $100 is a monetary loss, regardless that they came in and did a legitimate transaction. That transaction is completely irrelevant to the shortage in the register because it is a completely separate and legitimate transaction. At the end of the shift, the register will total will still account for that $100 stolen. Now, if the owner does an inventory check, that is when the $70 in merchandise will come to play. Its really not that hard to understand, people.
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01/16/17
John C.
$100. People are over thinking it. The thief stood the 100. Then came back and gave it back. Reason doesn't matter. The 100 went back. The thief left the second time with 70 in product and 30 change. It is 100 all day long
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01/16/17
Skye T.
Omfg, is it really that hard to understand that when the thief stole the hundred, that made the register short $100. When they came back and did the transaction, the register is STILL short $100. The inventory is an extra loss.
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01/16/17
Xio A.
The question is how much did the owner lose, not how much cash he lost. If someone steals merchandise from you, even if they paid you with your money, you still have double the loss. Now the owner has to purchase an extra product to cover the cost of the first. So if the guy took $70 worth of merchandise, I, as a business owner, will have to dip into my savings to purchase and replace that item. So I lost double. Continue the equation, there's more to it.
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01/16/17
Xio A.
You lost
$70 in merchandise
$30 cash
- $100 in cash and merchandise (this is only half of the equation)
Now, I have to replace the $70 in merchandise, that's another "$70" I have to spend. (Technically it's less because the store didn't pay $70 for their merchandise but let's not complicate things, since so many people are having trouble with this.
So...I have to replace the $70 item, now that's $140 loss plus add the $30=$200 loss
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01/16/17
Gregory D.
The Owner's actual loss is what he paid for the 70.00 worth of goods.
Plus 30.00 out the till.
The 100.00 he got back from the thief. And then the thief got the 30.00 cash.
Potential sales revenue is not actual.
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01/16/17
Stacie S.
So if the thief stole more than $100, where is it? Because he only has $70 in goods and $30 in cash. He left the $100 bill behind at the store. The register won't show the goods he bought or the $30 as a loss because that was a 'legit' transaction. It will only show $100 missing.It doesn't know the difference between that shadey purchase or any other legit purchase that day. It was still a purchase either way you look at it. He would have to walk away with the $100 plus the goods for it to come to $170. Or the $100 plus the $30 and the goods to be $200. If I steal a ball from a store then go back and swap the ball out for a doll, the store is only out a doll not a ball and a doll. So he 'swapped' the $100 for $30 and & $70 in goods.$100 total.
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01/17/17
Stacie S.
Its funny to me that people mention having to replace the $70 goods. One problem,how is the owner going to know about them? They're not going to show up as stolen, because the thief PURCHASED them. The register is not going to say, "$70 in goods purchased with stolen money". Nor will the $30. It will blend in with all the other PURCHASED items and transactions that day. It won't be counted as a loss. But the $100 will.
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01/17/17
Ubi N.
If we calculate it's actually 100 $ opportunity loss + 100$ actual loss as the shopkeeper has A sale of a good 100 $ say (70$ cost of good + 30$ profit ) and when the same bill is stolen it's becomes an opportunity loss of a sold good n a cash receipt of 100 $ then the later transaction is irrational wr the lady bought from the same shop.
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01/17/17
Keith W.
As a cop with the evidence in front of me. The thief would be charged with 2 crimes. Theft of the 100 bucks and shoplifting of 70 bucks worth of pruduct. 100+70=170. That is the loss the store owner took. If the thief went to another store and spent the 100 bucks it would be 1 crime and the store owner lost 100 bucks.
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01/17/17
Keith W.
If she was caught restitution would be 170. 100 cash and 70 cash for the product.
She has a possibility of getting a 3rd charge called return fraud. What's confusing alot of people is she is cleaning the stolen money. In the end 170 is what the owner lost.
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01/17/17
Robert I.
The woman steals $100.
You are out $100.
She returns and bought $70 worth of goods. You return $30.
You are now out the $30 plus the cost of goods. If you sell your goods at a profit of say 20% your actual cost of the $70 worth of goods is $56.
You lost the $56 in goods and then the $30 you gave back. You are down $86.
If you make a 0% profit on goods you sell, then you would be out the full $100.
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01/18/17
Tyke S.
LOL it says don't think too much ...
here's my way of thinking.
The woman stole $70 dollars worth of merchandise plus the 30 dollars difference she kept.
The owner lost 70 dollars worth of merchandise and the 30 dollars he gave to the thief. Basically he got his 70 dollars back in his register but in return, lost some of his merchandise.
So, the answer is $100.00
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01/20/17
Rhonda B.
Ok folks it's 100.00. The original question doesn't give an option to include the actual product cost. The choices are $30 $70 $100 $130 $170 or $200. The final lines warns DO NOT OVERTHINK IT which should be a clue that the answer is simple. Let's look at it this way. The lady steals $100 and gives back $100 And leaves with $70 in merchandise and $30 in cash.
-100
+100
-70
-30
=$100
what if the lady did the same thing in reverse order. Let's say she alread had $100 in her pocket. She bought $70 in merchandise and hot $30 back. then she stole $100 from an register before she left the store.....it's. $100. Trust me. I was an executive officer in a bank for 18 years and I have been a store owner for 9 years.
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01/29/17
Mark S.
The correct answer is $30 plus cost of product. You can thank me later.
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02/06/17
Renae B.
Good Grief! It's 100.00. The thief basically swapped the 100.00 dollars in exchange for 70.00 dollars merchandise and 30.00 dollars cash! Simple! Don't over think it! It would be the same if he decided before leaving the store with the stollen 100.00 dollars to put it back in the drawer and walk out with 100.00 dollars merchandise....
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02/12/17
Jessica B.
So how I see 100 being the answer can be from this scenario example
Real customer (not a thief)
500 cash. 500 goods
+100 cash. -70 goods (full profit)
-30 change
570 cash 430 goods profit 140
(Thief)
500 cash. 500 goods
-100 stolen 500 goods
400 left. 500 goods
+100 cash. -70 goods
500 (-30change). 430 goods
470 cash. 430 goods. Profit 40
Profit 1: desired profit 140
Profit 2: manipulated. 40
140-40= 100 loss
Real customer (not a thief)
500 cash. 500 goods
+100 cash. -70 goods (full profit)
-30 change
570 cash 430 goods profit 140
(Thief)
500 cash. 500 goods
-100 stolen 500 goods
400 left. 500 goods
+100 cash. -70 goods
500 (-30change). 430 goods
470 cash. 430 goods. Profit 40
Profit 1: desired profit 140
Profit 2: manipulated. 40
140-40= 100 loss
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02/21/17
Alvis P.
it's $100.
if he steals $100, then the store is down $100
if he buys $70 worth of product with the $100, the store is losing $70 worth of product
once they give him the $30 back, the person now has $100 worth of the stores assets($70 products and $30 cash) when he leaves.
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05/12/17
Marie A.
Don't over think it....Steal $100...Decided I would rather have food so I gave you back your $100 and you gave me $70+$30 (not knowing it was his money to begin with)
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07/23/17
Christina D.
ANSWER IS $200
SORRY YOU'RE WRONG
So you're saying $100. The keywords are how much did the OWNER LOSE not the REGISTER. The $100 stolen was merchandise bought by another customer correct. The the their came back with that money and spent $70 on merchandise and the $30 change is technically from the original stolen money. So $170 in merchandise plus $30 change equals $200.
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08/23/17
Thomas P.
But you're forgetting he got the $100 bill back.. The thief didn't walk out with the 100 bill, the change, and the 70 in merch..
They walked out with 70 in merch and 30 in change for a total of 100.
They walked out with 70 in merch and 30 in change for a total of 100.
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10/11/17
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Mariah G.
12/06/16