Current Portion of Long-Term Debt Connie's Bistro, Inc., reported the following information about its long-term...
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Accounting
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 | ||||
| Current Year | Preceding Year | |||
| Total long term-debt | $657,500 | $361,600 | ||
| Less current portion | (190,700) | (177,500) | ||
| Long-term debt | $466,800 | $184,100 | ||
a. How much of the long-term debt was disclosed as a current liability on the current years 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? $
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? $
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