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.
A federal government cost of living increase (COLA) is an increase in salary based on how much additional money a typical person or household needs. A federal government cost of living increase (COLA) is an increase in salary based on how much additional money a typical person or household needs.