1. HEMI purchased land and a building for $360,000,000 on September 1,2022 . The land was appraised at $100,000,000, and the building was appraised at 300,000,000 for insurance purposes. Management estimates the building's residual value to be $20,000,000 at the end of its useful life of 20 years. HEMI's accountant wants you to: a. Calculate the cost of land and building in HEMI's accounting records ( 2 marks). b. If HEMl paid cash of $210,000,000 and borrowed $150,000,000 (Mortgage Payable) to purchase the land and building, provide the September 1 journal entry to record the purchase of land and building ( 4 marks). c. Calculate the building depreciation expense using the straight-line depreciation method for two months, from September 1 to October 31, 2022 (2 marks). d. Provide October 31, 2022, adjusting journal entry to record the depreciation expense on the building ( 2 marks). HEMI paid $10,000,000 for equipment used to crate (package) its inventory for shipping. This amount is recorded in the Equipment general ledger account. The equipment is expected to be useful for 500,000 crates (package). The equipment will have no residual or salvage value at the end of its useful life. a. Complete the yearly depreciation expense in the following table based on the estimated units of production (2 marks): Explain why you did not have to pro-rate the units of production depreciation for the months the equipment is in use like you did for the building using the straight-line method in Part 1(c) above (2 marks)