Air France-KLM (AF) a Franco-Dutch company, prepares its financial statements according to International Financial reporting standards.AF's financial statements and disclosure notes for the year ended December 31, 2019, are available under the finance link at the company's website (www.arifranceklm.com). This case addresses a variety of characteristics of financial statements prepared using IFRS, often comparing and contrasting those attributes of statements prepared under US GAAP. Questions are grouped in parts according to various section of the textbook.

A6. the statement of cash flows lists the purchase of property, plant, and equipment. Assuming this full amount was for the purchase of flight equipment, prepare the Journal entry.

A7. Describe the similarities and differences in the order of presentation of the components of the balance sheet between IFRS as applied by Air France -KLM (AF) and a typical balance sheet prepared in accordance with U.S GAAP. A8. what amount did air France -KLM report for the following items (a)Current assets, (b) long -term assets, total assets, (d) current liabilities, (e) long term liabilities, (f) total liabilities, (g) total shareholders' equity on Dec. 31, 2019. A9. what was Air France -KLM largest current assets other than Other current liabilities. A10. Compute Air France current ratio in 2019. A11. Assuming Air France-KLM's industry had an average current ratio of 1.0 and an average debt to equity ratio of 2.5, comment on Air France's liquidity and long- term solvency. A12. what amount does AF report in the income statement for (a)sales and for external expenses related to (b)aircraft fuel and aircraft maintenance (see note 7)