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Classification of Financial Statement Items Regal Entertainment Group operates the largest chain of movie theaters in the U

Accounting Jan 12, 2021

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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