Net income of S/ 42,659.08 (statutory reserve for 2018). Statutory reserve of previous years = S/ 29,365.58.Share capital of S/ 460,000.00. In this example, the legal reserve for the period is $46,900, which must be added to the cumulation of previous years, assuming that the subscribed capital of the corporation is $1,500,000 and that the balance of this reserve is $720,000, if we add the value of the statutory reserve for that period, the amount would be $766,900. of which $16,900 may or may not be added, since the minimum amount of 50% of the subscribed capital would already be reached. 59 Resultados Acumulados      7,050    ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ ́ 582 Legalx/x por la detracción de la reserva legal de las utilidades no distribuidas. Para calcular la reserva legal, la empresa deberá determinar su utilidad líquida o después de impuesto, refiriéndose a la utilidad contable y no fiscal, a esta base se deberá aplicar el 10%, el resultado será destinado a la reserva legal. Now, make the calculation of the statutory reserve for the period 2019 according to the data presented below: Note± as mentioned in the previous paragraphs, the statutory reserve is determined on the basis of the net results of the balance sheet obtained, regardless of the amounts of income tax and employee participation determined in accordance with tax regulations. are larger or smaller than those determined in accounting. There is an obligation to allocate to „statutory reserves“ at least 10% of each year`s distributable profit, net of income tax. Since the legal reserves as at 31.12.2017 (S/ 00) do not exceed 20% of the share capital (S/ 2,000,000 x 20% = S/ 400,000), the deduction is made for the amount calculated in the previous table: before knowing the legal reserve in detail, it is necessary to know that there are other types of reserves that companies can constitute, according to your needs. Finally, the statutory reserve can be activated to increase the company`s capital; and this is, for its part, a condition for it to have reached its maximum limit for the distribution of capital premiums. The legal or compulsory reservation, as its name suggests, is mandatory for joint-stock companies, foreign companies and limited partnerships by shares, which are in all cases governed by Article 452 of the Commercial Code, which complies with the regulations of companies. The occasional reserve is an MMF created for a specific purpose during a given period by resolution of the general meeting of shareholders or the general meeting of shareholders or its equivalent, this use may be made on retained earnings or profits for the year.
Therefore, in the case presented by the accountant to the company, the legal reserve is constituted as follows: the reserves can be legal, statutory or occasional: this has as a limit the fifth part of the capital, which does not exceed this limit, the condition of the legal reserve, in other words, the accumulated legal reserve can not be greater than (20%) of the subscribed capital. The legal reserve represents the benefit or distributed profits of any kind that are excluded from the distribution and that are affected by a specific future objective, which gives the company greater economic and financial soundness. It is also known that there is a legal reserve from previous periods for S/30,000.00. The legal reserve in Peru assumes that companies or corporations must allocate a certain percentage of their distributable profits to an account called a „legal reserve“, so if the company is at a time when it has losses, that account can help cover them. In this sense, and in accordance with what is ± in the previous paragraph, public limited companies are obliged, among other things, to make a legal reservation that must be made on distributable profit, a concept that, although not defined by LGS, we can understand by it the accounting result. Net income tax (and, where applicable, profit sharing), i.e. net profit. In this case, the accumulated legal reserve does not exceed 20% of the capital. In this context, Article 229 of the LGS provides for the obligation to add at least ten per cent (10 per cent) of each year`s distributable profit, net of income tax, to a legal reserve until it reaches an amount equal to one fifth of the capital (i.e.
up to 20% of the capital). He added that if the reservation is exaggerated, it does not have the condition of a legal reserve. These reservations are also not mandatory and do not affect legal reserves or legal reserves, so they must be calculated according to the reduction of the previous two if there is room for them. Net income: S/ 39,385.08 x 10% = S/ 3,938.51 (statutory reserve for 2015)Statutory reserve for previous years = S/ 30,000.00Total = S/ 33,938.51 (cumulative statutory reserve)Capital: S/ 250,000.00 x 20% = S/ 50,000.00 The statutory reserve, in accordance with Article 229 of Law No. 26887, General Law on Companies; It can have a maximum limit of 20% of the company`s capital. The legal reserve is a sum of money that companies must keep for the profits they make during a period, this fund is intended to protect the assets of the company in case of losses, the reserve can be useful if the capital is reduced for this reason until the reason for the dissolution is reached, it can also serve as a guarantee against obligations, which arise for the benefit of third parties.
