Current Portion of Long-Term Debt Burger King Holdings, Inc., the operator and f

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Current Portion of Long-Term Debt

Burger King Holdings, Inc., the operator and franchisor of Burger King restaurants, 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:
June 30
____________________________
2009 2008
_____________________________________________________________

Notes Payable $823,100,000 876,200,000
Less Current Portion (67,500,000) (7,400,000)
_____________ _______________
Long Term Debt $755,600,000 868,800,000


a. How much of the notes payable was disclosed as a current liability on the June 30, 2009, balance sheet?
$_________

b. How much did the total current liabilities change between 2008 and 2009 as a result of the current portion of long-term debt?
$________ Increase

c. If Burger King did not issue additional notes payable during 2010, what would be the total notes payable on June 30, 2010?
$________

Explanation / Answer

notes payable was disclosed as a current liability on the June 30,2009, balance sheet is 67,500,000 total current liability in 2008 = 7,400,000 total current liability in 2009 = 67,500,000 it increases by = 67500000-7400000 = 60,100,000

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