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Posted by Phil on January 9, 2007, 1:59 pm
Please log in for more thread options RC,
Using Win Xp SP 2 with all updates
Quicken Deluxe 2006 with all updates
Spin-off was effective Jan 2, 2007 but since the market was closed
(Pres.Ford funeral) it went into effect on Jan 3rd.
Corporate Securities spin-off entry made
Duke Energy (Original security)
Spectra Energy (Spin Off Security)
.5 shares issued per old share
$20 opening price of old shares (post spin-off)
$28.25 cost per new share
Held 362 shares of Duke Energy
Don't understand how you can say I am trying to get maximum help with
minimal disclosure since all I asked in my first post was:
"Can I reverse a Corporate Securities Spin-off? If so, How?"
Also I think I understand what happens in the real world when a Corporate
Securities Spin-off is effective since I spent over 30 years in the
brokerage business. My problem is understanding what Quicken does.
Hope this helps.
Phil B.
> Hi, Phil.
>
> Please tell us the version of Quicken that you are using. It wouldn't
> hurt to also mention your version of Windows.
>
> And then tell us when the spin-off happened and when you made the entry.
> What entry did you make? The name of the companies involved would
> probably also be helpful. Some of us may already be familiar with the
> transaction; if not, we can look it up. A link to the company's website
> would probably go a long way to help us understand and to help you
> understand it, too. The number of shares might be important.
>
> You are giving me the very queasy feeling of having come into the middle
> of the movie, with no idea of how we got to this point. :>( It seems
> that you are trying to get maximum help with minimal disclosure. We can't
> help you if we don't really know what the problem is, and you have not
> done a good job of explaining it in your first two messages. My first
> reply asked for details, but your second post gave us none at all. We
> don't even know if this is a public company or your family corporation.
> We don't know if the spin-of happened in 2006 or 1996.
>
> Remember the two-step process for recording any transaction:
>
> Step 1: Understand what happened in the real world.
>
> Step 2: Record what happened.
>
> Trying to do the second step before the first is almost guaranteed to
> require that you back up, undo what you did wrong, and start over.
>
> RC
> --
> R. C. White, CPA
> San Marcos, TX
> (Retired. No longer licensed to practice public accounting.)
> rc@grandecom.net
> Microsoft Windows MVP
> (Currently running Vista Ultimate x64)
>
>> RC,
>>
>> Seems that the spin-off entry has fouled up the value of the
>> original security as well as the spin-off security. I must have done
>> something wrong. Prices are correct.
>>
>> For some reason I can't find the spin-off transaction. Any help
>> appreciated. Thanks.
>>
>> Phil B.
>>
>>
>>> Hi, Phil.
>>>
>>> What???
>>>
>>> That seems a very strange questions. Exactly what do you mean?
>>>
>>> Would it work to simply delete the entry for the spin-off transaction?
>>> Or is your situation more involved than that?
>>>
>>> Please post back with details and maybe we can suggest something more
>>> elaborate that might work for you.
>>>
>>> RC
>>>
>>>> Can I reverse a Corporate Securities Spin-off? If so, How?
>>>>
>>>> Any help appreciated.
>>>>
>>>> Phil B.
>
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