The long-term debt was disclosed as a current liability on the current year's December 31 balance sheet $4,096.
<u>Given Data provided in the question:</u>
<u> Current Year</u> <u>Preceding Year</u>
Total long term-debt <u> $27,917</u> <u>$26,557 </u>
Current portion <u>(</u><u>4,096)</u> <u>(2,224)</u>
Long-term debt <u>$23,821</u> <u>$24,333</u>
Now,
The long-term debt was disclosed as a current liability on the current year's December 31 balance sheet will be the amount equal to the current portion for the current year
Therefore, the answer is $4,096
<h3>What is Current Liability?</h3>
A current liability is:
- An obligation that will be due within one year of the date of the company's balance sheet, and
- Will require the use of a current asset or will create another current liability
However, if a company's normal operating cycle is longer than one year, current liabilities are the obligations that will be due within the operating cycle.
Current liabilities are usually reported as a separate section of a company's balance sheet. This allows readers to subtract their total from the company's total amount of current assets in order to determine a company's working capital. (Dividing current assets by the current liabilities is the company's current ratio.)
Your question is incomplete, but most probably your full question was:
PepsiCo, Inc. (PEP) reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt consists of the following: December 31 Current Year Preceding Year Total long term-debt $27,917 $26,557 Current portion (4,096) (2,224) Long-term debt $23,821 $24,333 a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet.
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