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On January 1, Yates Corporation issued $300 million face value bonds for $580 million. During...

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Accounting

On January 1, Yates Corporation issued $300 million face value bonds for $580 million. During the same year, $1,500,000 of the bond premium was amortized. On a statement of cash flows prepared by the indirect presentation of cash flows from operating activities, the accountants for Yates Corporation should report:

Multiple Choice

  • A positive adjustment of $1,500,000 to reconcile net income to net cash from operating activities (i.e., Net Income < CFO).

  • A positive cash flow from investing activity of $580 million.

  • A positive cash flow from financing activity of $300 million.

  • A negative cash flow from financing activities of $1,500,000.

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