Question: The information below was taken from the footnotes of JPMorgan

The information below was taken from the footnotes of JPMorgan Chase’s 2012 annual report. The December 31, 2012, balance in the allowance account was $21,936 (dollars in millions).


REQUIRED:
Compute the actual write-offs recognized by JPMorgan Chase in 2010, 2011, and 2012. Comment on JPMorgan Chase’s annual estimates. Discuss the amount of the 2010 provision, as compared to the 2012 estimate. Discuss the reasons underlying the 2012 amounts.
The following financial information represents Hadley Company’s first year of operations,2014:
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  • CreatedAugust 19, 2014
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