Current portion of long-term debt
1. Obj. 1
PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent financial statement (in millions):
1. How much of the long-term debt was disclosed as a current liability on the current year’s December 31 balance sheet?
2. 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?
3. If PepsiCo did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year?