Difficulty understanding a corporate security spin-off and reversing error in recording.
Entered a Corporate Security Spin-off dated June 15 2016 for CNQ (Canadian Natural Resources) spin-off of PSK (PrairieSky Royalty Ltd.). In error I entered the number of shares issued not the "ratio" of number of shares issued (flaw in Quicken description noted subsequently). Challenge is to reverse this transaction as Quicken has gone back to initial purchase of CNQ and recorded a 128:1 share spin off of PSK as well as every purchase since that 2010 purchase. Reversing this transaction seems quite cumbersome. Do I need to delete 15 transactions?
I am unclear why Quicken back dates a security spin off? We enter the cost basis to split but I do not see this going back and issuing shares that did not exist in 2010 in the accounts.
Am I missing something here? Should I manually do this spin off by purchasing PSK?