I have a puzzel which cannot be solved

A woman buys a \$78 necklace at a jewellery store. She gives the jeweler a cheque for \$100, because he does not have the 22\$ change on hand. He goes to another merchant next door. There he exchanges the woman's cheque for \$100 in cash. He returns and gives the woman the necklace and her change. Later the cheque bounces and he must make it good to the other merchant. He originally paid \$39 for the necklace. What is his total out-of-pocket loss? Please help me solve this puzzel

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There is too many variables in this real life problem to give you an exact answer.

The final outcomes all depends on what the jeweler's final expenses and recovered amounts here. If there is no additional expenses and nothing is recovered from the customer he will be out \$161 as he paid \$39 for necklace, reimburses the other vendor the \$100 for the bounced check and he is out \$22 that he gave the customer as change.

Now if he has to pay a returned check fee to the other vendor that adds to his expenses. If customer then makes good the check plus the return check fees then he has made a profit of \$39 minus his regular overhead expenses. If he sues the customer that changes everything again.

This can be even more confusing when you add in the real life figures and the final answer all depends on the final outcome of this problem that is why we have accountants to keep track of everything.

Posted on Nov 13, 2014

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Well for one thing, he did not seem to have a way to check out checks so he took it next door, weird, she i would pay the other merchant what he owes and try to never deal with that woman again, i would post her name on my register to remind myself. Check bouncers are the worst. if he had cashed it himself he could recoup the money and the bounced check would have been on her like it should have been, sometimes we must learn lessons. to bad he cannot talk to her and she could make it right.

Posted on Nov 13, 2014

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He makes a \$39 gross profit on the jewelry and then must make good on the check so \$39 - \$100 = \$61 loss.

Posted on Nov 13, 2014

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Posted on Nov 13, 2014

Hi,
a 6ya expert can help you resolve that issue over the phone in a minute or two.
Best thing about this new service is that you are never placed on hold and get to talk to real repairmen in the US.
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Posted on Jan 02, 2017

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