I am in accounting II here is my question? How would I prorate the number of months if a magazine sold 11,400 subscriptions for $35 in Dec of 08 in addition the business had taxable income of $140,000 during first calendar quarter of 09. The federal tax rate is 35% and a quarterly payment will be made on april 7 2009. I need to know how to prorate so I can prepare a current liabilities section on the balance sheet? I 140,000*.35 and then I 399,000*.35 (11400*35) . Am I right so far?