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The Case Study of Dr. Loniak What aresome investments Dr. Loniak has probably made in her business and how would each affect the basic accounting equation. Identify and classify the accounts affected if Dr. Loniak receives a cash paymentfor a visit. Her van, equipment used, and her medication she gives out. It would probably effect the debit side of the account because she would be using her money that she has earned. What assetsmight this business have?...Liabilities? Accounts Recievable & Cash The cash would be debited, the accounts receivable would be credited By: Hannah Mincemeyer Identify and classify the accounts affectedif Dr. Loniak wrote a check to pay for new veterinary equipment to be used on the van What kinds of revenue does Vet-to-Pet receive What kind of expenses might Pet-to-Vet incur? Which Form ofbusiness organization has Dr. Loniak chosen for business? Why do you think she has chosen this form? What are the benefits of the form of business she has chose? What basic accounting principle would beviolated if Dr. Loniak used the cash received from a house call to buy herself lunch? Assets: Cash, her vehicle, and any equipment she has. Liabilities:Her loan she pulls to start the business, taxes, herbills for buying the needed stuff Accounts Payable & Cash Accounts Payable would be debited and the cash would be credited Advertising Expense, Insurance Expense, Supplies Expense, and Travel ExpenseShe has chosen to start a sole proprietorship. I think she has chosen this form because all profits would be yours alone to keep. This form of business is easy and inexpensive, plus you have controlof everything because it's your business. •Easy and inexpensive to form a sole proprietorship •Low cost to start your business •Direct control of decision making •Minimal working capital required to...