Question # 4: (20 points) On August 1, Hani, Co. exchanged machinery with Wahran Co. Hani's asset is referred to below as Asset A, and Wahran's is referred to as Asset B. The following facts pertain to these assets. Asset A (Hani) Asset B (Wahran) Original cost 96,000 110,000 Accumulated depreciation (to date of exchange) 40,000 47,000 Fair value at date of exchange 60,000 75,000 Cash paid by Hani Co. 15,000 Cash received by Wahran Co. 15,000 Required: (a) Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Hani Co. and Wahran Co. 1- (b) Assuming that the exchange of Assets A and Blacks commercial substance, record the exchange for Both Hyde, Inc. and Wiggins, Inc. 1. 2