Ola
A
Let’s play.🤣

Someone steals a $100 bill from a store register, then buys $70 worth of goods at that store using the $100 bill and gets a $30 balance.

How much money did the store lose?
06:23 AM - Jul 23, 2023
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Tony_Bell
A
+ Sales = 70
- COGS = 35 (assumes 50% markup)
- Theft expense = 100
= Net Loss = -65

Basic income statement equations:
Sales - COGS = Gross Profit
Gross Profit - Expenses = Net Income (Loss)
In response to Ola.
03:46 PM - Jul 23, 2023 (Edited)
0
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