Burger King Holdings Inc, the operatior and franchisor of Burger King restaurant

Question

Burger King Holdings Inc, the operatior 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. Howmuch did the total current liabilities change between 2008 and 2009 as a result of the current portion of long-term debt?

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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