Hartman Manufacturing acquired a vehicle on January 1, 20X2, for $78,000. The machine is estimated to have a 6-year life, with a residual value of $6,000

Hartman Manufacturing is not certain whether to use the straight-line or double-declining-balance method of depreciation.
Prepare the following depreciation schedule:

Straight-Line Double-Declining-Balance
Depreciation Book Depreciation Book
Date Expense Value Expense Value
01/01/2X02 $78,000 $78,000
12/31/2X02
12/31/20X3
12/31/20X4
12/31/20X5
12/31/20X6
12/31/20X7

Straight-Line Double-Declining-Balance
Depreciation Book Depreciation Book
Date Expense Value Expense Value
01/01/2X02 $78,000 $78,000
12/31/20X2 $ 12,000 66,000 $26,000 52,000
12/31/20X3 12,000 54,000 17,333 34,667
12/31/20X4 12,000 42,000 11,556 23,111
12/31/20X5 12,000 30,000 7,704 15,407
12/31/20X6 12,000 18,000 5,136 10,271
12/31/20X7 12,000 6,000 4,271 6,000