Re: What's the proper accounting way to handle a stock split?

[Michael Gerdts]

On Tue, Apr 25, 2000 at 02:56:02PM -0600, Bryan Larsen wrote:
> I have mutual funds that split every December 1.  They split to bring their net
> asset value back to $10.  The ratios are never even.  Last time, it was 11.412
> to 10 or something like that.

This would also be an exception to the reverse stock split with a remainder
problem.  (That is 100 shares become 33 with 1 old share's value of cash.)
With mutual funds you can (and usually do) have fractions of shares.  With
stocks only whole shares are allowed.  At least this seems to be the case
on exchanges that my stocks are on.  Surely there is an exception to this
rule somewhere.

Mike

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