₦airaland Forum

iliyande:

ethene:
-500 - 100 + 100 - 400= -900. He lost N900.

niggi4life:
I think you still lose 500Naira

Rapsowdee01:
Lala is owing seun #100 naira


Seun steals #500 naira from Lala

(#600 naira loss to lala)


Seun gives Lala #100 naira from the #500

(Lala's Loss reduced to #500 naira back)

Lala then gave seun #400 naira change

(#500 + #400 -- #900)


Therefore Lala lost #900 naira





















After finding out Seun had Cheated him, Lala then gets angry and made a vow to Seun that any topic that involves Tonto Dikeh(Lala's crush), Big Snake(Lala's pet), Fayose(Lala's Uncle) will always make FP !!!

castANDbind:
if you're being owed 1h by someone, if he gives you 5h and you give him a 4h change, does that translate to you losing 4h??

Roon9:
anybody dat says any answer in d region of #900 obviously must av had a messed up math teacher yea. lols

Rapsowdee01:
You lost if it's your money !!! Remember he stole the money from you

Winifred60k:
#500.
To make it easier,assume that the guy who was robbed had an initial sum of#1000. Then do the maths again.
Note: He gives you #500. You now have the #500 with you,even though you give him a change of #400.

LastMumu:
Easy question. At the beginning, this was your cash position:

N500 Cash in hand
N100 Cash at debtor's hand. Therefore,
N600 total cash position.

After the Nigga stole your cash, pays you and collects his change, this is your new cash position.

N100 Cash in hand.
N0 Cash at debtor's hand. (he already paid off his debt).
N100 total cash position.
Therefore, N600 previous cash position(before the stealing) minus N100 current cash position(after the stealing) clearly shows you have lost N500 naira.

castANDbind:
It's unprofessional in accounting to make record of money not in hand as a credit. Only losses are postulated and recorded in advance. That's called 'The convention of Prudence' in bookkeeping.

LastMumu:
Lololol, you are getting the concept of Prudency wrong my friend. So as an accountant, if you borrow someone money or if someone owes you money, won't you record it in your books?
Prudency concept States that expenses, liability and losses should be immediately recognized in the books once it's occurrence is probable while revenue and profit be recorded only when it is certain.

iliyande:
lalasticlala let accountants solve this

iliyande:
lalasticlala let accountants solve this

MIM77:
Misunderstood the last part of the question.
The amount lost is #900 (-500-100 plus 100-400).

Lol you still solved the question wrongly.
If you have lost N900 it means the dude that stole the money gained N900. But how much is currently with the dude that stole your money? N500. The N400 change you gave to him plus the N100 debt that he previously owed you but has been cleared off.

castANDbind:
It's sure you lost, but it's an error on your path calculating the loss twice, isn't it??

LastMumu:
Lol you still solved the question wrongly.
If you have lost N900 it means the dude that stole the money gained N900. But how much is currently with the dude that stole your money? N500. The N400 change you gave to him plus the N100 debt that he previously owed you but has been cleared off.