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Classification of Financial Statement Items Regal Entertainment Group operates the largest chain of movie theaters in the U
Classification of Financial Statement Items Regal Entertainment Group operates the largest chain of movie theaters in the U.S. Classify each of the following items found in the company's financial statements included in the Form 10- K for the year ended December 31, 2015, according to: 1. whether it belongs on the income statement or balance sheet and 2. whether is a revenue, expense, asset, liability, or stockholders' equity item. Item Appears on the Classified as Example: Cash and cash equivalents Balance sheet Asset 1. Trade and other receivables, net Asset 2. Class A common stock Asset 3. Inventories Expense 4. Admissions Liability 5. Cost of concessions Revenue 6. Equipment Stockholders' equity 7. Accounts payable 8. Retained earnings 9. Interest expense, net 10. Long-term debt, less current portion
Expert Solution
| 1 | Trade and other receivables, net | Balance sheet | Asset |
| 2 | Class A common stock | Balance sheet | Stockholders' equity |
| 3 | Inventories | Balance sheet | Asset |
| 4 | Admissions | Income statement | Revenue |
| 5 | Cost of concessions | Income statement | Expense |
| 6 | Equipment | Balance sheet | Asset |
| 7 | Accounts payable | Balance sheet | Liability |
| 8 | Retained earnings | Balance sheet | Stockholders' equity |
| 9 | Interest expense, net | Income statement | Expense |
| 10 | Long-term debt, less current portion | Balance sheet | Liability |
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