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How much revenue Rothbart recognize in for this contract

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Reference no: EM133032005

Problem - Rothbart Manufacturing agrees to manufacture bumper cars for 12 Banners Amusement Parks. Under the terms of the contract12 Banners will pay Rothbart a total of $71,000 and 12 Banners can cancel the contract if it so chooses but must pay Rothbart for work completed. Rothbart believes that if 12 Banners cancelled the contract Rothbart could sell the bumper cars to another amusement park and still make a profit. The manufacturing contract is expected to last six months, and as of December 31, 2021, the Job is 50% complete. How much revenue should Rothbart recognize in 2021 for this contract?

Reference no: EM133032005

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