A truck was purchased on 1 January 1994, for $20,000 with no resale value. It will

Depreciation would be $2,500 ($20,000 / 8) per year.

(a) 31 December 1994;
Truck book value $17,500--Accumulated Depreciation $2,500
(b) 31 December 1995.
Truck book value $15,000--Accumulated Depreciation $5,000

Using the S/L method with no resale value for eight years:

$20,000 divided by 8 years is $2,500 per year.

(a) 31 Dec 1994 Balance Sheet:

Property, Plant, & equipment:
Trucks $ 20,000
Accumulated Depreciation- < 2,500>

Net $ 17,500

(b) 31 Dec 1995 Balance Sheet:

Property, Plant, & equipment:
Trucks $ 20,000
Accumulated Depreciation- < 5,000>

Net $ 15,000