What documentation is required when a contingent liability is recorded?

What is a warranty liability, and

how is it accounted for?

A deposit received from a customer for goods or services would be considered unearned revenue.  How does the company treat this if it is abandoned by the customer? (they never collect on their goods or services.)

Payroll liabilities are current, please describe them, give the accounts involved and discuss what causes them and their how are they resolved?

 

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Wolfgang, who is age 33, records AGI of $125,000. He incurs the following itemized deductions for 2015.
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/>Medical expenses [$15,000 − (10% × $125,000)]                  $ 2,500
State income taxes                                                                  4,200
Charitable contributions                                                           5,000
Home mortgage interest on his personal residence                     6,000
Casualty loss (after $100 and 10% reductions)                          1,800
Miscellaneous itemized deductions [$3,500 − 2%($125,000)]     1,000
$20,500

a. Calculate Wolfgang’s itemized deductions for AMT purposes.
b. What is the total amount of his AMT adjustments from these items?

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