The information below was taken from the footnotes of JPMorgan Chase's 2019 annual report. The December 31,
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The information below was taken from the footnotes of JPMorgan Chase's 2019 annual report. The December 31, 2019, balance in the allowance account was $13,123 (dollars in millions).
INSTRUCTIONS:
Compute the actual write-offs recognized by JPMorgan Chase in 2017, 2018, and 2019. Comment on JPMorgan Chase's annual estimates.
Transcribed Image Text:
2019 2018 2017 Allowance at Jan. 1 $13,445 $13,604 $13,776 Provision for losses 5,458 4,884 5,301 Recoveries 1,181 1,493 1,125
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