on August 1 Heidi and exchanged productive assets with Wiggins Inc. Heidi's asset is referred to below as asset a and Wiggins is referred to as asset be the following fax pertain to these assets.

please provide full explanation Excel**

P10.9 (LO 3) (Nonmonetary Exchanges) On August 1, Hyde, Inc. exchanged productive assets with Wiggins, Inc. Hyde's asset is referred to below as "Asset A," and Wiggins' is referred to as "Asset B." The following facts pertain to these assets. Asset A Asset B $96,000 $110,000 Original cost Accumulated depreciation (to date of exchange) Fair value at date of exchange Cash paid by Hyde, Inc. Cash received by Wiggins, Inc. 40.000 60,000 15,000 47.000 75.000 15,000 Instructions a. Assuming that the exchange of Assets A and B has commercial substance, record the ex- change for both Hyde, Inc. and Wiggins, Inc. in accordance with generally accepted accounting principles. b. Assuming that the exchange of Assets A and B lacks commercial substance, record the ex- change for both Hyde, Inc. and Wiggins, Inc. in accordance with generally accepted accounting principles