Question

A movie theater chain rents space from building owners and has security deposits on file with...

A movie theater chain rents space from building owners and has security deposits on file with the landlord for each theater. On which financial statement will you find the total value of such deposits?

Homework Answers

Answer #1
The security deposit for each landlord is a liability for that landlord.
The security deposit given to each landlord will be seen as a liability
on the balance sheet of that landlord.
On the other hand, the security deposits will be seen as an asset for the
movie theater chain. This kind of asset will be seen on the movie theater
chain's balance sheet as "Other assets".
You will find the total value of such deposits on the balance sheet of the movie
theater chain pertaining to the category "Other assets".
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