*Problem 10-9 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 B $96,000 $110,000 47,000 Asset A Original cost Accumulated depreciation (to date of exchange) Fair value at date of exchange 40,000 60,000 75,000 15,000 Cash paid by Hyde, Inc Cash received by Wiggins, Inc. 15,000 Assuming that the exchange of Assets A and B has commercial substance, record the exchange for both Hyde, Inc. and Wiggi answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) ns, Inc. in accordance with generally accepted accounting principles. (Round Account Titles and Explanation Debit Credit Wiggins, Inc.'s Books Assuming that the exchange of Assets A and B lacks commercial substance, record the exchange for both Hyde, Inc. and Wiggins, Inc. in accordance with generally accepted accounting principles. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places e.g. 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credit Account Titles and Explanation 11/27/2017