Accounting Problem

Refer to Non-Monetary Asset Exchange.png, using that information, com plete Requirement A & Requirement B

Non-Monetary Asset Exchange Acme Inc. exchanged assets with Emca Ltd. On December 31, 2010. The details are as follows: Acme Emca Machine A Machine B Cost $ 150,000 $ 140,000 Accumulated amortization $ 90,000 $ 80,000 Fair market value $ 65,000 $ 70,000 Prepare the journal entry for the exchange for Acme Inc. under each scenario below: Requirement A: Assume the transaction does not have commercial substance Requirement B: Assume the transaction has commercial substance