EX 10-7 Current portion of long-term debt
The Coca-Cola Company reported the following information about its long-term debt in the notes to a recent financial statement (in millions):
Long-term debt is comprised of the following:
|
December 31 |
||
|
Current Year |
preceding Year |
|
|
Total long term-debt |
$15,317 |
$5,110 |
|
Less current portion |
(1,276) |
(51) |
|
Long-term debt |
$14,041 |
$5,059 |
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?
c. If Coca-Cola did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year?