EX 11-7 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?
c. If Burger King did not issue additional notes payable during 2010, what would be the total notes payable on June 30, 2010?
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