EXAM 2 Afternoon CTA (q 101) WTF

wtf is this how are we supposed to assume that the retained earinings number in the BS is the ending retained earnings and not beg? usually they need to give us detailed as to whether or not there are any RE at the beginning of the period no? In the schweser books (accounting p195) the retained number in the BS doesnt mean shit…they make you calculate it unsing : End Re= BEG RE+ NI-DVD… i dont get it…its too easy the way they do it

If the BS says Dec 31, 2008 it means the RE as of that date. If they gave you 2007 statements, I would assume the 2008 ones are the ending.

shi-t!!! your right thanks