Accumulated depreciation accounts are liability accounts.?

False, they're contra-assets.

Please note that net profit is a liability Let us find out the Net Profit i am omitting 000 for convenience Interest expenses 36 Rent expenses 72 Depreciation expenses 12 Cost of goods sold 1760 Income Tax 240 ------------- 2120 Sales 2480 Profit 360 ------------------ Liabilities Assets Paid in Capital 80 Accumulated depreciation 36 (24 +12) Notes payable 280 Inventory 840 Accounts receivable 192 Land 128 Retained earnings 900 Net Profit 360 Cash 144 Equipment 72 Accounts payable 92 I am getting a difference of 300 i am sorry due to paucity of time I am leaving as it is