Sure, I can help you prepare the necessary journal entries for both situations in 2020.
**Situation 1 - Kingbird Cosmetics:**
1. To record the acquisition of Martinez Fashion shares:
- Debit: Investment in Martinez Fashion Stock $27,120 (10% of 212,000 shares * $13 per share)
- Credit: Cash $27,120
2. To record the receipt of cash dividend from Martinez Fashion:
- Debit: Cash $7,640 (10% of $76,400)
- Credit: Dividend Revenue $7,640
3. To record Kingbird's share of Martinez Fashion's net income:
- Debit: Investment in Martinez Fashion Stock $12,580 (10% of $125,800)
- Credit: Equity in Earnings of Martinez Fashion $12,580
**Situation 2 - Oriole, Inc:**
1. To record the acquisition of Seles Corporation shares:
- Debit: Investment in Seles Corporation Stock $114,300 (40% of 31,700 shares * $9 per share)
- Credit: Cash $114,300
2. To record the receipt of cash dividend from Seles Corporation:
- Debit: Cash $13,240 (40% of $33,100)
- Credit: Dividend Revenue $13,240
3. To record Oriole's share of Seles Corporation's net income:
- Debit: Investment in Seles Corporation Stock $31,160 (40% of $77,900)
- Credit: Equity in Earnings of Seles Corporation $31,160
These journal entries reflect the transactions for both situations in 2020. Please consult with a professional accountant or financial advisor to ensure accuracy and compliance with accounting standards.