Current Portion of Long - Term Debt TheCoca - Cola Company reported the followin

Question

Current Portion of Long - Term Debt

TheCoca - Cola Company reported the following information about its long - term debts 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- debts $15,317       $ 5,110

Less current portion      (1276 )                (51)

Long - Term debt        $14041            $ 5059.

a. How much of the long - term debt was disclosed as current years Decemder 31 balance sheet ? $ _______.

b. How much did the total current liabilituies change between the preceding year and the current year as a result of the current portiob 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? $______

Explanation / Answer

Ans a Long term debt discolsed as curent in current year is $1276 million

Ans b Change between preceding and current year in current liabilities $1276-51= $1225

Ans c Long term debt in next year if Coca Cola did not issue additional long term debt is $ 14041.

As current portion of long term debt $1276 will be paid and no additional long term debt issued so ans is $14041

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