it's all gone ('s = has OR is)

[Liza]

Hi,

Could you tell me what the 's' stands for in the following expression?

I've spent so much money this week. I don't know where it's all gone.

Is it: where it has all gone? OR where it is all gone.

Thanks

Bye
Liza

[Alan]

Hi Liza,

Interesting question. To me the preference would be for 'has' because of the word 'where' suggesting 'gone to'. If you said: I don't know why it's gone, I would suggest 'is'.

Alan
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[Molly]

Would one say "where is she/he gone"? Nope.

[Daemon99]

[MrPedantic]

Both structures are possible, and both are current:

1. Where has it all gone?

— expresses an action.

2. Where is it all gone?

— expresses a state.

I would agree that with the original example "has" is more likely.

MrP