The reaction described is a typical decarboxylation reaction where formic acid (\( \text{HCOOH} \)) undergoes reduction in the presence of concentrated KOH. When heated, formic acid decarboxylates, resulting in methanol (CH$_3$OH) and potassium formate (HCOOK). The reaction proceeds as follows:
1. The formic acid is treated with concentrated KOH.
2. The hydroxide ion attacks the carbonyl group of the formic acid, leading to the formation of potassium formate and the liberation of carbon dioxide.
3. The remaining product after decarboxylation is methanol.
Decarboxylation of formic acid yields methanol and potassium formate.