Hello! Could you help me understand this topic? I have problem in #4, it is whether to use 1,000,000 or 1,200,000? and why? Also #5 I need help.

(please,provide resources I can read for better understanding.) Thank you! (with explanation, thank you so much!)

3. Keeper Co. has the following liabilities on December 31, 20x1: Trade and other payables 2,000,000 6,000,000 Note payable (issued 3 yrs. ago, maturing on Dec. 31, 20x2) Serial bonds payable (next annual principal installment of P800,000 due July 1,20x2) Sook-current (w/m 12 mos arter reporting 5,600,000 On February 28, 20x2, Keeper Co. entered into a non-cancelable agreement with the lender to refinance the note payable on a long- term basis, on readily determinable terms that have not yet been implemented. Keeper Co.'s 20x1 financial statements were authorized for issue on March 31, 20x2, What amount of current liabilities should Keeper Co. report in its 20x1 statement of financial position? a. 2,000,000 b. 2,800,000 (C. 8,800,000 d. 13,600,000 4. Pam, Inc. has P1,000,000 notes payable due on June 15, 20x6. On December 31, 20x5, Pam signed an agreement to roll over the P1,000,000 note on a long-term basis, Under the agreement, the amount that can be rolled-over cannot exceed 80% of the value of the collateral Pam was providing. As of December 31, 20x5, the value of the collateral was P1,200,000 and was not expected to fall below this amount during 20x6. In its December 31, 20x5, balance sheet, Pam should classify the notes payable as Short-term Long-term 1,000,000 960,000 a. 0 b. 40,000 (AICPA - adapted) Short-term 200,000 d. 1,000,000 Long-term 800,000 0 5. Poof Co. has total current liabilities of P3,120,000 on Dec. 31, 20x1 before possible adjustment for the following: Poof Co.'s authorized capitalization was fully issued. During the year, Poof Co. filed an amended Articles of Incorporation with the Securities and Exchange Commission (SEC) increasing its authorized capitalization. Although the SEC approval was not yet received, Poof Co. started receiving deposits for future subscription of its shares. A total of P480,000 were collected and credited to "Subscribed Capital." Per agreement with the subscribers, the deposits are to be reimbursed immediately if in case the SEC rejects Poof Co.'s application for increased capitalization. Poof Co. expects to receive the SEC's decision in April 20x2. Included in the total current liabilities is a bank loan of P600,000 that is maturing on July 1, 20x2. On February 14, 20x2, Poof Co. entered into a refinancing agreement with the bank to extend the repayment of the loan to July 1, 20x5. The original loan agreement provides for such renewal option, and as of Dec. 31, 20x1, Poof Co. has complied with all the conditions relating to the extension of the loan repayment. Poof Co.'s financial statements were authorized for issue on March 15, 20x2. How much is the adjusted total current liabilities on Dec. 31, 20x1? b. 3,000,000 c. 3,120,000 d. 3,600,000 a. 2,520,000 Shameless Co had the followin 1:11. h