The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement.
A cost-of-living raise is an increase in pay that's intended to keep the buying power of an employee's salary the same during a period of inflation.he biggest group affected by cost-of-living raises is Social Security recipients. Some employees have contracts that include automatic cost-of-living raises. Others work for companies that voluntarily increase pay to keep pace with inflation.
Regardless of the amount, or if there is a cost of living increase for all employees, there is a standard way to calculate the increase. Step 1. Determine the yearly salary before the increase. This is the annual gross figure the employee received prior to the raise; for example, $50,000. Step 2. Compute the raise based on the percentage or the flat amount given. Percentage example: $50,000 x 4 percent (.04) = $2,000 annual increase.