Inferring Transactions from Financial Statements Fitbit inc. is a technology company that designs, manufactures, and sells wearable devices with software and services to help customers reach their health and fitness goals. During fiscal 2018, Fitbit purchased inventory costing 51.636,8845 thousands. Assume Fitbit makes all purchases on credit and its accounts payable is only used for inventory purchases The following T-accounts reflect information contained in the company fiscal 2017 and 2018 balance sheets is thousands Trentories 2017 Bal 223.011 2018 BL 224700 Accounts Payable 312.016 2017 45200 2018 Support a. Use the financial statement effects template to record Fitbits 2018 purchases. Note: For each account category, indicate the appropriate account name. Enter "NIA" for any account category that is not used for a given transaction Note: Indicate a decrease in an account Category by including a negative sign with the amount. Income Statement Balance Sheet Liabilities Cash Asset Nancash Assets Contrib. Capital NE Earned Capital Revenues 0 0 + 0 . 0 . . What amount did it pay in cash to its suppliers during fiscal year 2018? O Note: For each account category, indicate the appropriate account name. Enter "NA" for any account Category that is not used for a given transaction Note: Indicate a decrease in an account Category by including a negative sign with the amount in Satament Balance Sheet Labies Cash Aset Newcash Assets Contri. Capital tarned Capital Nevers 0 b. What amount did it pay in cash to its suppliers during fiscal year 2018? c. Use the financial statement effects template to record cost of goods sold for its fiscal year 2018 Note: For each account category, indicate the appropriate account name. Enter "NA" for any account category that is not used for a given transaction Note: Indicate a decrease in an account category by including a negative sign with the amount Balance Sheet Liabilities Income Statement Expenses Cash Asset Noncash Assets Contrib. Capital Earned Capital Revenues Net o G 3 Inferring Transactions from Financial Statements Fitbit Inc. is a technology company that designs, manufactures, and sells wearable devices wit fiscal 2018, Fitbit purchased inventory costing $1,636,884 ($ thousands). Assume Fitbit makes The following T-accounts reflect information contained in the company's fiscal 2017 and 2018 Inventories 2017 Bal. 223,011 2018 Bal. 224,768 Accounts Payable 382,916 2017 Bal. 452,983 2018 Bal. a. Use the financial statement effects template to record Fitbit's 2018 purchases. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any Note: Indicate a decrease in an account category by including a negative sign with the amoun Cash Asset Balance Sheet Liabilities Noncash Assets Contrib. Cap 0 0 = b. What amount did it pay in cash to its suppliers during fiscal year 2018? $ 0 Use the financial statement effects template to record cost of goods sold for its fiscal year Cash Asset Noncash Assets Liabilities Contrib. Capital Earned 0 0- 0 0 b. What amount did it pay in cash to its suppliers during fiscal year 2018? $ 0 c. Use the financial statement effects template to record cost of goods sold for its fiscal year 2018. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category th Note: Indicate a decrease in an account category by including a negative sign with the amount Cash Asset Noncash Assets Balance Sheet Liabilities Contrib. Capital Earnec 0 0 0 Check Previous Save Answers
