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Please asap and explain I posed this before and didn't understand how it was solved. this is a financial statement effects template Inferring Transactions from
Please asap and explain I posed this before and didn't understand how it was solved. this is a financial statement effects template 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 $909,380 thousand. 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's fiscal 2017 and 2018 balance sheets (\$ thousands). a. Use the financial statement effects template to record Fitbit's 2018 purchases. b. What amount did it pay in cash to its suppliers during fiscal year 2018 ? Explain. c. Use the financial statement effects template to record cost of goods sold for its fiscal year 2018. Balance Sheet CashAsset+NoncashAssets=Liabil-ities+ContribCapital+EamedCapital
Please asap and explain
I posed this before and didn't understand how it was solved.
this is a financial statement effects template
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