Hi sir/madam!

How am I suppoes to treat depreciation if it is given in the trial balance? It considered as liability of the business? And if an adjustment is given in the trial balance regarding depreciation of that asset, how it will be treated in the profit and loss account and balance sheet?

There are usually two depreciation figures
In the trial balance.
1) Depreciation Account (debit)
2) Provision for Depreciation of Asset (credit).

The Depreciation Account is a Profit and Loss
Item.
The Provision for Depreciation is a NEGATIVE
To the Asset in the Balance Sheet.

Accumulated depreciation is a contra assets account its not a liability. Lets assume you purchased a car for 10,000 $ and you expect that it will be used for 5 years. At the date of the purchase you will record Dr. Cars 10000
and Cr. Cash. And then at the end of each year you should record a depreciation expense for the amount of 2000 (10000/5years) Dr. Depreciation expense 2000 and Cr. Accumulated depreciation for 2000. Accumulated depreciation will reduce the amount of car to 8000 (10000-8000) it will be shown on the balance sheet as follows:
Cars 10000
Accumulated depreciation 2000
Net book value 8000