Rothbart Manufacturing agrees to manufacture bumper cars for 12 Banners Amusement Parks. Under the terms of the contract, 12 Banners will pay Rothbart a total of $66,000, 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 80% complete. How much revenue should Rothbart recognize in 2021 for this contract? Multiple Choice $13.200 O $66.000 $53.300

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Rothbart Manufacturing agrees to manufacture bumper cars for 12 Banners Amusement Parks. Under the terms of the contract, 12 Banners will
pay Rothbart a total of $66,000, 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 80% complete. How much revenue should
Rothbart recognize in 2021 for this contract?
Multiple Choice
$13.200
$66.000
553.300
Prev
1 of 15
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Transcribed Image Text:Chapter 6 i Saved Help Save & Exit Subm Rothbart Manufacturing agrees to manufacture bumper cars for 12 Banners Amusement Parks. Under the terms of the contract, 12 Banners will pay Rothbart a total of $66,000, 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 80% complete. How much revenue should Rothbart recognize in 2021 for this contract? Multiple Choice $13.200 $66.000 553.300 Prev 1 of 15 Next >
Multiple Choice
$13,200
$66,000
$53.300
15
Nex
Transcribed Image Text:Multiple Choice $13,200 $66,000 $53.300 15 Nex
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