Question: Accounting Valuation of Fixed Assets Consider two types of assets held by Weyerhaeuser Company:
1) timber-growing land purchased in 1912 when the company was known as Weyerhaeuser Timber Company and
2) machinery purchased and installed at its paper processing plant in Saskatchewan, Canada, in 2012. How close do you suppose the December 31, 2013, balance sheet value of each asset is to the market value of the asset at that date?