You are planning to save for retirement over the next 35 years. to do this, you will invest $840 per month in a stock account and $440 per month in a bond account. the return of the stock account is expected to be 10.4 percent, and the bond account will pay 6.4 percent. when you retire, you will combine your money into an account with a return of 7.4 percent. how much can you withdraw each month from your account assuming a 30-year withdrawal period

Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by bridgeport corporation. 1. bridgeport developed a new manufacturing process, incurring research and development costs of $195,600. the company also purchased a patent for $45,200. in early january, bridgeport capitalized $240,800 as the cost of the patents. patent amortization expense of $12,040 was recorded based on a 20-year useful life. 2. on july 1, 2017, bridgeport purchased a small company and as a result recorded goodwill of $52,000. bridgeport recorded a half-year’s amortization in 2017, based on a 20-year life ($1,300 amortization). the goodwill has an indefinite life. prepare all journal entries necessary to correct any errors made during 2017. assume the books have not yet been closed for 2017.