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(a) Write 0.019 as a percentage. (b) Write 7.12% as a decimal. (a) 0.019 = 1.9% X (b) 7.12% = Required information Use the following information for Quick Studies below. (Algo) {The following information applies to the questions displayed below) Nix'It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix"It uses the perpetual inventory system). Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 41,800 123,300 7,000 153,600 3.700 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 5,700 107.400 11.100 36,500 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $40.250 QS 4-11 (Algo) Accounting for shrinkage-perpetual system LO P3 Prepare the entry to record any inventory shrinkage [The following information applies to the questions displayed below) Valley Company's adjusted account balances from its general ledger on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense-selling space, store supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative. Credit Debit $ 35,500 142,000 $ 41,003 47.787 70,319 3,000 242,820 Adjusted Account Balances Merchandise inventory (ending) Other (noninventory) assets Total liabilities Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-Selling space Store Supplies expense Advertising expense Office salaries expense Rent expense-office space Office Supplies expense Totals 3,715 16,026 94,217 33,266 11,413 2,914 28,640 30,353 2,914 971 $401,929 $401,929 Beginning merchandise inventory was $28.649. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs

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