The Yuan Zang company has a defined benefit pension plan. At the end of the current reporting period December $31,20$X$1$ and December $31,20$X$2$ the following was available:

Other information and assumptions:

The discount rate and the expected rate of return are $10\%$

The actual rate of return in $20$X$1$ was $8\%$

The actual rate of return in $20$X$2$ was $12\%$

Required:

$1.$ Calculate the Pension Expense for the Yuan Zhang Corporation in $20$X$1$ under ASPE.

$2.$ Give the Employer's year end accounting entry to record the pension expense for the year December $31,20$X$1$ under ASPE.

$3.$ Calculate the Pension Expense for the Yuan Zhang Corporation in $20$X$2$ under ASPE.

Dr Cr Account