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Journalize the entries to record the following selected transactions:
(a)Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the merchandise sold was $510.
(b)Paid $436 to the state sales tax department for taxes collected.
Equally-Weighted Portfolio
An investment portfolio where each asset is allocated the same percentage of total investment capital.
Securities
Financial instruments that hold some type of monetary value, such as stocks, bonds, or options.
Factor Portfolios
Investment portfolios constructed to capture risk factors or sources of returns that are believed to explain the performance of securities.
Expected Return
The weighted average of all possible returns for a given investment, with weights being the probabilities of each outcome.
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