Part 1 - Setting Up Separate Tabs
Basically you create a Google Form and create one entry for each student. From there you create a template on the Response spreadsheet using Data Validation and two basic formulas - Query and Count If. Once your template is set you clone a sheet for each student. Scared of the Query formula? No sweat! You can copy/paste the one from the screencast's description area.
Part 2 - Sharing Tabs with Individual Students
Unfortunately, Google does not (yet) have the ability to easily share individual tabs. However you can you can create a new sheet and use the ImportRange formula to provide a live view for each student. Its even easier than Part 1.
The process might sound complicated, but it is actually pretty simple. You might just need a quiet space and about 30-45 minutes to set it up for your entire class, but then you should be set for the year. Shout out to Ted Juch and Google Gooru for inspiring the idea for these reading logs.