Current portion of long-term debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt consists of the following: December 31 Current Year Total long term-debt Current portion $784,700 (227,600) $557,100 December 31 Preceding Year $431,600 (211,900) $219,700 Long-term debt a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet? million million b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt? million Increase c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming D year?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Current portion of long-term debt
Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions):
Long-term debt consists of the following:
December 31
December 31
Current Year Preceding Year
Total long term-debt
Current portion
$784,700
(227,600)
$557,100
$431,600
(211,900)
$219,700
Long-term debt
a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet?
million
b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term
debt?
million
million Increase
c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming
D
year?
Transcribed Image Text:Current portion of long-term debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt consists of the following: December 31 December 31 Current Year Preceding Year Total long term-debt Current portion $784,700 (227,600) $557,100 $431,600 (211,900) $219,700 Long-term debt a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet? million b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt? million million Increase c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming D year?
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