Sea Green Enterprises reports the following assets and liabilities on its balance sheet. Net Book Value...

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Sea Green Enterprises reports the following assets and liabilities on its balance sheet. Net Book Value Fair Market Value Assets $930,000 $1,395,000 Liabilities 279,000 279,000 Sea Green just lost a product liability lawsuit, with damages of $13,950,000 being awarded to the plaintiff. Although Sea Green will appeal the judgment, legal counsel indicates the judgment is highly unlikely to be overturned by the appellate court. The product liability insurance carried by Sea Green has a policy ceiling of $8,370,000, Assume any net assets of the company will be used to reduce the judgment. What is the amount of liability of Sea Green Enterprises and its owners if the business entity is a sole proprietorship, a partnership, a C corporation, and an S corporation? If an amount is zero, enter "0". a. If the form of the business entity is a sole proprietorship, the owner is ultimately liable for 0X. Feedback b. If the form of the business entity is a partnership, the partnership and the general partners are ultimately liable for 0 X Feedback Sea Green Enterprises reports the following assets and liabilities on its balance sheet. Net Book Value Fair Market Value Assets $930,000 $1,395,000 Liabilities 279,000 279,000 Sea Green just lost a product liability lawsuit, with damages of $13,950,000 being awarded to the plaintiff. Although Sea Green will appeal the judgment, legal counsel indicates the judgment is highly unlikely to be overturned by the appellate court. The product liability insurance carried by Sea Green has a policy ceiling of $8,370,000, Assume any net assets of the company will be used to reduce the judgment. What is the amount of liability of Sea Green Enterprises and its owners if the business entity is a sole proprietorship, a partnership, a C corporation, and an S corporation? If an amount is zero, enter "0". a. If the form of the business entity is a sole proprietorship, the owner is ultimately liable for 0X. Feedback b. If the form of the business entity is a partnership, the partnership and the general partners are ultimately liable for 0 X Feedback

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The value of liability to be paid13950000 and Net Asse... View the full answer