Which of the following transactions /items will influence the trial balance agreement?

Solution

The errors of omission may be committed at the time of recording the transaction in the books of original entry or while posting to the ledger. These can be of two types: (i)                  error of complete omission - When a transaction is completely omitted from recording in the books of original record, it is an error of complete omission. Such error do not affect the trial balance (ii)           error of partial omission - When the recording of transaction is partly omitted i.e. both the debit and credit aspect of the transaction is not recorded in the books, it is an error of partial omission. Such error will impact the trial balance as the debit and credit balances will not match. When two or more errors are committed in such a way that the net effect of these errors on the debits and credits of accounts is nil, such errors are called compensating errors . Such errors do not affect the tallying of the trial balance