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Jasmin, Shou-Yi, and Vanessa form an LLC, and each contributes $25.000 in capital. The LLC operates for a period of time, during which it borrows money from banks and purchases goods on credit from suppliers. After some time, the LLC experiences financial difficulties and goes out of business. If the LLC fails with $500,000 in debts, which of the following is an accurate statement regarding the liability of Jasmin. Shou-Yi, and Vanessa? Each will lose her capital contribution of $25,000, but will not be personally liable for the rest of the unpaid debts of the LLC. Each will lose her capital contribution of s25,000, and will be personally liable for the rest of the unpaid debts of the LLC. Each will not be personally liable for the $500000 in debts, and will be reimbursed for her $25000 capital contribution. Each will not be personally liable for the $500,000 in debts and a constructive trust for the entire $75,000 in capital contributions will be imposed so that Jasmin Shou-Yi and Vanessa can form a new business venture.

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tutorconsortium127

A true comment on Jasmin's responsibility. Vanessa, Shou-Yi, and Each will not be held personally accountable for the remaining unpaid debts of the LLC, but will forfeit her $25,000 capital contribution.

What is meant by capital?

  • A factory and its equipment, intellectual property like patents, or the financial assets of a company or a person all fall within the broad definition of capital, which can also refer to anything that provides value or advantage to its owners.
  • A factory and its equipment, intellectual property like patents, or a company's or individual's financial assets are just a few examples of things that offer their owner value or an edge.
  • Although money can technically be considered capital, the term is typically used to refer to money that is used to invest or create things. In a firm, capital is the total amount of financial resources needed to produce goods or services.

To learn more about capital, refer to:

https://brainly.com/question/23631000

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