If a company has stockholders' equity of $60,000 at the end of the year, which of the following statements must be true? a. the company's assets exceed liabilities by $60,000.b. the company has issued $60,000 of common stock. c. net income for the year equals $60,000.d. total revenues during the year equal $60,000

A. The company's assets exceed liabilities by $60,000

Explanation:

According to the accounting equation the Assets are equal to the liabilities plus the equity. With the information given in the exercise you must use this equation.

Assets = liabilities+ Equity

Assets= Liabilities + $60.000

Assets- Liabilities = $60.000

As you can see, you can conclude that the assets are grater that the liabilities only by $60.000.

There are lack of information for the B option, C Option and D option, and you can't make that type of statement without more information about the companies operations.  

since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.