1.This week, we discussed the accounting for the investment of bonds in a subsidiary. Why are...

1.This week, we discussed the accounting for the investment of bonds in a subsidiary. Why are bonds treated as retired during the consolidation process? What theoretical justification is used to support this accounting treatment? Please justify your answer, from a practical and also theoretical standpoint.

2.One of this week’s topics covered the accounting for leases on the consolidated financial statements. In 200 words or more, discuss the issues that relate to the accounting for operating and capital leases.

In your posting, please articulate issues that the accountant faces in recording such transactions and how they should be recorded on the financial statements of the company.

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