Required information Air FranceKLM Case (Static) [LO11-10] Skip to question [The following information applies to the questions displayed below.] Air FranceKLM (AF), a Franco-Dutch company, prepares its financial statements according to International Financial Reporting Standards. AFs financial statements and disclosure notes for the year ended December 31, 2017, are available here. This material is also available under the Finance link at the companys website ( www.airfranceklm.com ). Air FranceKLM Case (Static) Part 1 Required:

1. AFs property, plant, and equipment is reported at cost. The company has a policy of not revaluing property, plant, and equipment. Suppose AF decided to revalue its flight equipment on December 31, 2017, and that the fair value of the equipment on that date was 12,000 million. Prepare the journal entry to record the revaluation assuming that the journal entry to record annual depreciation had already been recorded. (Hint: you will need to locate the original cost and accumulated depreciation of the equipment at the end of the year in the appropriate disclosure note.) (Enter your answers in millions. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

The following is included in AFs disclosure note 4.13: Intangible assets are recorded at initial cost less accumulated amortization and any accumulated impairment losses. Assume that on December 31, 2017, AF decided to revalue its Other intangible assets (see Note 17) and that the fair value on that date was determined to be 500 million. Amortization expense for the year already has been recorded. Prepare the journal entry to record the revaluation. (Enter your answers in millions. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)