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 $2,182,512 ($ thousands). Assume Fitbit makes all purchases on credit and its accounts payable is only used for inventory purchases. The following Taccounts reflect information contained in the companys fiscal 2017 and 2018 balance sheets ($ thousands).
| Inventories |
|---|
| 2017 Bal. | 297,348 | | |
| 2018 Bal. | 299,690 | | |
| | | |
| | | |
| Accounts Payable |
|---|
| | 510,554 | 2017 Bal. |
| | 603,977 | 2018 Bal. |
| | | |
| | | |
a. Use the financial statement effects template to record Fitbits 2018 purchases. Note: For each account category, indicate the appropriate account name. Enter "N/A" 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. 
Inferring Transactions from Financial Statements the company's fiscal 2017 and 2018 balance sheets (\$ thousands). 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 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. Inferring Transactions from Financial Statements the company's fiscal 2017 and 2018 balance sheets (\$ thousands). 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 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. Accounts Receivable Accumulated Depreciation Advertising Expense Cash Common Stock cash to its suppliers during fiscal year 2018?\$ it effects template to record cost of goods sold for its fiscal year 2018. gory, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. an account category by including a negative sign with the amount. 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 "N/A" 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. Inferring Transactions from Financial Statements the company's fiscal 2017 and 2018 balance sheets (\$ thousands). 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 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. Inferring Transactions from Financial Statements the company's fiscal 2017 and 2018 balance sheets (\$ thousands). 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 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. Accounts Receivable Accumulated Depreciation Advertising Expense Cash Common Stock cash to its suppliers during fiscal year 2018?\$ it effects template to record cost of goods sold for its fiscal year 2018. gory, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. an account category by including a negative sign with the amount. 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 "N/A" 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
