Chapter 2, Problem 2.3E

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 on the company’s balance sheet included in the Form 10-K for the fiscal year ended January 1, 2015 as a current asset (CA), noncurrent asset (NCA), current liability (CL), long-term liability (LTL), or stockholders’ equity (SE) item.

______ 1. Trade and other receivables, net

______ 2. Class A common stock

______ 3. Land

______ 4. Inventories

______ 5. Interest payable

______ 6. Equipment

______ 7. Accounts payable

______ 8. Retained earnings

______ 9. Equipment

______ 10. Long-term debt, less current portion