In keeping with a modernization of corporate statutes in its home state, umc corporation decided in 2018 to discontinue accounting for reacquired shares as treasury stock. instead, shares repurchased will be viewed as having been retired, reassuming the status of unissued shares. as part of the change, treasury shares held were reclassified as retired stock. at december 31, 2017, umc's balance sheet reported the following shareholders' equity: ($ in millions) common stock, $1 par $ 200 paid-in capital—excess of par 800 retained earnings 956 treasury stock (4 million shares at cost) (25 ) total shareholders’ equity $ 1,931 required: a. identify the type of accounting change this decision represents. b. prepare the journal entry to effect the reclassification of treasury shares as retired shares.

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

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a

explanation:

answerobservation;

answerup to (3) three years;