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Brief Exercise 15-11 Kingbird Inc. owns shares of Oriole Corporation stock. At December 31, 2017,...

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Accounting

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Brief Exercise 15-11 Kingbird Inc. owns shares of Oriole Corporation stock. At December 31, 2017, the securities were carried in Kingbird's accounting records at their cost of $717,000, which equals their fair value. On September 21, 2018, when the fair value of the securities was $1,111,000, Kingbird dedlared a property dividend whereby the Oriole securities are to be distributed on October 23, 2018, to stockholders of record on October 8, 2018. Prepare all joumal entries necessary on those three dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit (To record gain or loss) earch 9:45 PM gx 12/2/2018

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