Cole Company issued 10,000 shares of common stock. Cole purchased 1,000 shares and later reissued 500 shares. How many shares are issued and outstanding?
A) 10,000 issued and 9,500 outstanding
B) 9,000 issued and 9,000 outstanding
C) 9,500 issued and 9,000 outstanding
D) 10,000 issued and 10,000 outstanding
Correct Answer:
Verified
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C)contra-asset
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