PPL Corp spun off Talen Energy. PPL Corp is considered the parent company.
The cost basis allocation information can be found on the PPL Corp web site at:
https://www.pplweb.com/investors/shareowner-services/. The fair market price used in this calculation was the closing price of PPL and Talen on June 2, 2015.
This action is a simple spinoff transaction in the accounting software. The information below is based on the information available from the cost basis allocation information on the PPL Corp web site.
The Spinoff Entry
Go to Transactions > Spinoff or Accounting > Securities > Record spinoff of securities depending on the version of the software being used. If you are unfamiliar with spinoff transactions you can get help at this URL: https://www.iclub.com/support/kb/default.asp?page=normal_spinoff
Here is the information you need to complete the spinoff.
Select Parent Security (or Parent Company) : PPL Corp (PPL)
Remaining Basis Percentage: 93.14
Cash received: See your broker statement for cash-in-lieu received
Spinoff Security (or Symbol of New Company) : Talen Energy (TLN)
Shares received : .12491 x (#of VLO shares owned) (Remember to include fractional shares.)
For example, if you owned 100 VLO shares, you should receive .12491 x 100 = 12.491 TLN shares. The exchange ratio is rounded at the 5th decimal.
Price Per Share : 18.76 (Closing price on 6/1/2015)
Save the transaction and the spinoff has been entered.