Academic & Career Training ACC402: Accounting 2 ASSIGNMENT- 2 INSTRUCTOR: Ahmed Haroun E-MAIL: ahmed@winstoncollege.com Total Marks: 10 Instructions: Each question should be answered within 300-350 words otherwise you will loose marks. Tpye or print clearly. Give a list of resources/refences you used in the preparation of answers. . . Use "Time New Roman" font style and 12 font size. Plagiarism will have no tolerance. Question 1: (6 marks) a) What is a lease? Describe the differences between operating leases and capital leases. (2 points) b) Describe the advantages of financing operations by issuing bonds. (2 points) c) Explain why convertible bonds may be attractive to both investors and the corporation issuing the bonds. (2 points) Question 2: (4 marks) a) A bond issued with a maturity value of $200,000 and a carrying amount of $195,500 is paid off at 98.5 and retired. What is the gain or loss on this transaction? (4 points) Pag