Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1, 2020, Rose Enterprises, Inc., was formed to manufacture and sell Baseball Card Memorabilia. In the current year 2023, the went Public and
On January 1, 2020, Rose Enterprises, Inc., was formed to manufacture and sell Baseball Card Memorabilia. In the current year 2023, the went Public and now is listed on the NASDAQ (Ticker Symbol REIC) is summarized as follows: Rose Enterprises, Inc.'s business address is 1010 Northeast Parkway, Tustin CA 9278; its telephone number is (714) 505-1212. The employer identification number is 11-1111122, and the principal business activity code is 423910. Joseph Rose and Sam Rose each owned 15% of the common stock; Joe is President and CEO, and Sam is COO of the company. Ryan Bryant is the CFO and does not hold any shares. All the officers are full-time employees of Rose Enterprises, Inc. Joe's Social Security number is 123-45-6788, Sam's Social Security number is 123-45-6787 and Ryan's Social Security Number is 123-95-7894. The Company sold XYZ Company stock at 12/31/2023 that was purchased on 1/02/2023 with IPO proceeds. They purchased 1,000 shares @ 130 per share and sold it @ $230 per share. The Company also has worthless stock in their portfolio. Trout Enterprises a private company that was purchased for $350,000 on January 1, 2023, and the Company filed for bankruptcy on September 15, 2023. Rose Enterprises
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started