Recording Corporate Spinoffs
I hope someone can help answer this problem. I am trying to record a Corporate Spinoff, but the dialog boxes don't make a lot of sense. So, MDU spun off KNF on May 31 as a new company. The ratio was 1 new share for every 4 shares owned. So, when I go to try to enter this, I have a box which asks for "cost per old share" and then "cost per new share". Since this is a new company there is no cost for old shares, and which cost do I enter for cost per new share since they didn't actually cost me anything.
I tried entering this for MDU, but as this is a dividend reinvestment plan the program generated over a hundred entries and I have no idea whether the data is good or not. [Frankly I don't really want to see this breakdown, it would be great if it could be done and held in the background.] Can someone please walk me through this? I should be every so grateful.