Since, the business is just starting, the GST Clearing is treated as a current asset since we are paying GST rather than collecting it on behalf of the ATO (as there aren't any sales being made or anything for us to collect gst). When we pay more GST than collecting, it is a current asset because the ATO now owes us the amount we paid.
The loan amonut from GEN1 Bank is repaid 2000 per month. So 2000 x 12 = 24000 would be paid within a year. Thus, that would be the amonut recorded as the current liability.
The loan amount from Offistuff is used to buy shop fittings and its worth 25000 plus gst. So we need 27500 (incl gst) as the amount for the loan we receive (since we need money to pay for the gst as well). But, we are also paying a deposit and since we pay it, we wont need a loan amount for that. Thus, u do 27500-5000 = 22500