Assignment: Partnerships PowerPoint Create a 4-6 minute video of the PowerPoint

Assignment:
Partnerships PowerPoint
Create a 4-6 minute video of the PowerPoint that you create explaining the process of journalizing the problems in this module and the additional required summary. Review the rubric criteria for this assignment.
Upload your video to YouTube. Paste the link on a Word document and submit to the dropbox. Be sure to include a cover page.
Use Learning Materials and the Additional Resources of this module to assist you with the assignment. In a PowerPoint, complete the following activities.
Journalize the formation for the following partnership using the template provided. On October 14, 2022, Robert Decker and David Payne entered into a partnership. Decker invests $5,000 of his cash and agricultural equipment worth $96,000 with accumulated depreciation of $26,400. The current appraised value of the equipment is $101,000. The partnership will take the responsibility of a $23,000 note issued by Robert Decker. David Payne will invest $18,000 cash into the partnership. Use the journal template provided below.
Date
Account
Dr.
Cr.
2022
October
14
Cash
Agriculture Equipment
Notes Payable
R. Decker, Capital
October
14
Cash
D. Payne, Capital
From the following partnership, calculate the amount of deficit distribution that will affect Amy Rickett and Allison Conley after calculating Salary Allowance, Interest Allowance, and distribution of Net Income.
Salary Allowance
$42,000
Amy Rickett
56,000
Allison Conley
Interest Allowance is 11% of their beginning balances (Rickett, $136,000; Conley, $173,000).
Remainder of the net income is divided equally. Net income for the year was $130,200.
Use the journal template provided below.
Rickett
Conley
=
Total
Salary Allowance
+
=
Interest on Capital Investment
+
=
Total Salary and Interest Allowances
+
=
Net Income less Salary and Interest Allowances
+
=
Share of Net Income to Partners
+
=
Provide an explanation for each journal entry below.
Date
Account
Dr.
Cr.
May
13
Swanson, Capital
800
Moore, Capital
800
A
July
28
Cash
600
Jenkins, Capital
600
B
Nov.
12
Moore, Capital
400
Black, Capital
400
Merchandise Inventory
800
C
Journalize the following liquidation entries:
June
10
Sold other assets of partnership that were valued at $168,000, recovering $102,000.
11
The loss from June 10 is shared in the ratio of 6:2:2 (T. Smith; A. Shore; C. Wells).
17
Paid claims of creditors $14,000.
Use the template below.
Date
Account
Dr.
Cr.
June
10
Cash
Loss or Gain from Realization
Other Assets
11
T. Smith, Capital
A. Shore, Capital
C. Wells, Capital
Loss or Gain from Realization
17
Liabilities
Cash
Summary
Add a summary slide to the existing PowerPoint you have been working on describing
“What is Partnership Equity?” article in the Additional Materials section of this module.
You will record a 4-6 minute video of your PowerPoint as you explain the process of the journalizing that you did and explain highlights of the summary that you wrote.
Assignment Expectations
Length: 4-6 minute video, 5-7 slides; answers must thoroughly address the questions in a clear, concise manner
Structure:
Title slide and reference slides in APA style. (at least 2 slides)
Journalizing: at least 3 slides
Summary: at least 2 slides
Additionally, because a good presentation has few words on the slides include a script with the verbiage you would say when presenting; script should be a minimum of 50 words per slide.
References: Use the appropriate APA style in-text citations and references for all resources utilized to answer the questions. Include at least three (3) scholarly sources to support your claims.