Trial balance failure after stock split
Fred Bone
Fred.Bone at dial.pipex.com
Mon Jun 18 07:09:25 EDT 2007
I'm probably doing something wrong, but cannot see what. I used the
"Stock Split Druid" to record a consolidation, and it resulted in a
mismatch when I do a Trial balance.
Using v2.1.3 for Windows.
I started with 731 shares bought for 487.80.
The company did a "Share Consolidation", one for three with a cash
distribution of 146.60 (this was via an issue-and-redemption of "B"
shares, but that's a technicality). I ended up with 244 shares.
In the Druid, I entered:
(Stock Split Details) Shares: 244-731
(Cash In Lieu) Amount: 146.20
chose suitable accounts for the cash-in-lieu and left everything else
alone.
The transaction shows in the stock register as
Num Description Tot Shares Tot Buy Tot Sell
Stock Split -487 487
Split Assets:<>:PON -487
Cash In Lieu Assets:<>:Cash 146.20
Cash In Lieu Income:<>:PON 146.20
The net result in Trial Balance is that the value shown against the
relevant stock has reduced from 487.80 to 97.72, with the two other
accounts each increasing by the expected 146.20, for a net discrepancy in
the final totals of 487.80-97.72=390.08.
Everything else (that I've thought to check) looks correct.
What should I have done differently?
Where does it get that 97.72 figure from???
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