On January $1,2023,$ Xiamen Company made amendments to its defined benefit pension plan that resulted in $66,000$ yuan of past service cost. The plan has $5,120$ active employees with an average expected remaining working life of $12$ years. There currently are no retirees under the plan.

Assume that Xiamen Company is a foreign company using IFRS and is owned by a company using U$.$S$.$ GAAP. Thus, IFRS balances must be converted to U$.$S$.$ GAAP to prepare consolidated financial statements. Ignore income taxes.

Required:

Prepare journal entries for the past service cost for the years ending December $31,2023,$ and December $31,2024,$ under $(1)$ IFRS and $(2)$ U$.$S$.$ GAAP.

Prepare the entry$($ies$)$ that the U$.$S$.$ parent would make on the December $31,2023,$ and December $31,2024,$ conversion worksheets to convert IFRS balances to U$.$S$.$ GAAP.Required A

Prepare journal entries for the past service cost for the years ending December $31,2023,$ and December $31,2024,$ under $(1)$ IFRS and

$(2)$ U$.$S$.$ GAAP.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$1$ Record the entry for the past service cost as per IFRS.

$2$ Record the entry for the deferred past service cost as per

U$.$S$.$ GAAP.

$3$ Record the entry for the past service cost as per U$.$S$.$

GAA.

$4$ Record the entry for the past service cost as per IFRS.

$5$ Record the entry for the past service cost as per U$.$S$.$

GAA.

$6$ Record the entry for the past service cost as per IFRS.

Note : $=$ journal entry has been entered

Prepare the entry$($ies$)$ that the U$.$S$.$ parent would make on the December $31,2023,$ and December $31,2024,$ conversion worksheets to

convert IFRS balances to U$.$S$.$ GAAP.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.