Question
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:
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: Long-term debt is comprised of the following: December 31 Total long term-debt Less current portion Long-term debt Current Preceding Year Year $478,000 $262,900 (138,600) (129,100) $339,400 $133,800 a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet? 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? 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 year? Feedback Check My Work
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