<PAGE> PAGE 1
000 B000000 10/31/94
000 C000000 0000811803
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PRINCOR BALANCED FUND, INC.
001 B000000 811-5072
001 C000000 5152475476
002 A000000 PRINCIPAL FINANCIAL GROUP
002 B000000 DES MOINES
002 C000000 IA
002 D010000 50392
002 D020000 0200
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
013 A000001 ERNST & YOUNG LLP
013 B010001 DES MOINES
013 B020001 IA
013 B030001 50309
014 A000001 PRINCOR FINANCIAL SERVICES CORPORATION
014 B000001 8-01137
014 A000002 PRINCIPAL FINANCIAL SECURITIES, INC.
014 B000002 8-17269
014 A000003 MORGAN STANLEY INCORPORATED & CO.
014 B000003 8-15869
020 A000001 DAIN BOSWORTH
020 B000001 41-1414269
020 C000001 5
020 A000002 LIPPER ANALYTICAL
020 B000002 13-2792478
020 C000002 2
020 A000003 INSTINET CO.
020 B000003 13-2596491
020 C000003 2
020 A000004 SALOMON BROTHERS
020 B000004 13-3082694
020 C000004 1
020 A000005 CANTOR, FITZGERALD & CO., INC.
020 B000005 95-1786286
020 C000005 1
020 A000006 JEFFRIES & CO.
020 B000006 95-2622900
020 C000006 1
<PAGE> PAGE 2
020 A000007 EXECUTION SERVICES, INC.
020 B000007 13-2862329
020 C000007 1
020 A000008 CHICAGO CO.
020 B000008 36-2549961
020 C000008 1
020 A000009 GOLDMAN SACHS CO.
020 B000009 13-5108880
020 C000009 1
020 A000010 BEAR STEARNS & CO.
020 B000010 13-3299429
020 C000010 1
021 000000 24
022 A000001 FORD MOTOR CREDIT CO.
022 B000001 38-1612444
022 C000001 49998
022 D000001 0
022 A000002 GENERAL ELECTRIC CAPITAL CORP.
022 B000002 13-1500700
022 C000002 45053
022 D000002 0
022 A000003 AMERICAN EXPRESS CREDIT CORP.
022 B000003 11-1988350
022 C000003 37682
022 D000003 0
022 A000004 CHEVRON OIL FINANCE CO.
022 B000004 25-1215010
022 C000004 37573
022 D000004 0
022 A000005 ASSOCIATES CORP. OF NORTH AMERICA
022 B000005 74-1494554
022 C000005 29801
022 D000005 0
022 A000006 GENERAL ELECTRIC CO.
022 B000006 42-1192999
022 C000006 27189
022 D000006 0
022 A000007 AMERICAN GENERAL FINANCE CORP.
022 B000007 35-0416090
022 C000007 24310
022 D000007 0
022 A000008 HOUSEHOLD FINANCE CO.
022 B000008 36-1239445
022 C000008 22108
022 D000008 0
022 A000009 BENEFICIAL CORP.
022 B000009 51-0003820
022 C000009 13584
022 D000009 0
022 A000010 COMMERCIAL CREDIT CO.
022 B000010 52-0883351
<PAGE> PAGE 3
022 C000010 10731
022 D000010 0
023 C000000 316830
023 D000000 2036
028 A010000 2616
028 A020000 0
028 A030000 0
028 A040000 1665
028 B010000 1074
028 B020000 0
028 B030000 0
028 B040000 743
028 C010000 1241
028 C020000 211
028 C030000 0
028 C040000 440
028 D010000 804
028 D020000 0
028 D030000 0
028 D040000 365
028 E010000 949
028 E020000 0
028 E030000 0
028 E040000 319
028 F010000 1210
028 F020000 262
028 F030000 0
028 F040000 469
028 G010000 7894
028 G020000 473
028 G030000 0
028 G040000 4001
028 H000000 6734
029 000000 Y
030 A000000 658
030 B000000 5.00
030 C000000 0.00
031 A000000 132
031 B000000 0
032 000000 77
033 000000 449
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 118
044 000000 0
<PAGE> PAGE 4
048 000000 0.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 Y
067 000000 Y
<PAGE> PAGE 5
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 16458
071 B000000 5873
071 C000000 40867
071 D000000 14
072 A000000 12
072 B000000 1175
072 C000000 807
072 D000000 0
072 E000000 0
072 F000000 282
072 G000000 0
072 H000000 0
<PAGE> PAGE 6
072 I000000 241
072 J000000 12
072 K000000 0
072 L000000 0
072 M000000 8
072 N000000 25
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 6
072 S000000 3
072 T000000 118
072 U000000 0
072 V000000 0
072 W000000 15
072 X000000 710
072 Y000000 0
072 Z000000 1272
072AA000000 235
072BB000000 0
072CC010000 0
072CC020000 1115
072DD010000 1471
072DD020000 0
072EE000000 1647
073 A010000 0.4025
073 A020000 0.0000
073 B000000 0.5445
073 C000000 0.0000
074 A000000 10
074 B000000 0
074 C000000 7457
074 D000000 16552
074 E000000 2568
074 F000000 26543
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 32
074 K000000 0
074 L000000 280
074 M000000 4
074 N000000 53446
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 80
074 S000000 0
<PAGE> PAGE 7
074 T000000 53366
074 U010000 4294
074 U020000 0
074 V010000 12.43
074 V020000 0.00
074 W000000 0.0000
074 X000000 7476
074 Y000000 0
075 A000000 0
075 B000000 47183
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 10300
081 A000000 Y
081 B000000 25
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE A.S. FILEAN
TITLE V.P. & SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1994
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 49,962,982
<INVESTMENTS-AT-VALUE> 53,119,362
<RECEIVABLES> 312,450
<ASSETS-OTHER> 3,630
<OTHER-ITEMS-ASSETS> 10,281
<TOTAL-ASSETS> 53,445,723
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,749
<TOTAL-LIABILITIES> 79,749
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49,843,846
<SHARES-COMMON-STOCK> 4,294,081
<SHARES-COMMON-PRIOR> 3,012,051
<ACCUMULATED-NII-CURRENT> 131,213
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 234,535
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,156,380
<NET-ASSETS> 53,365,974
<DIVIDEND-INCOME> 806,971
<INTEREST-INCOME> 1,174,835
<OTHER-INCOME> 0
<EXPENSES-NET> 709,906
<NET-INVESTMENT-INCOME> 1,271,900
<REALIZED-GAINS-CURRENT> 234,600
<APPREC-INCREASE-CURRENT> (1,115,430)
<NET-CHANGE-FROM-OPS> 391,070
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,470,992)
<DISTRIBUTIONS-OF-GAINS> (1,646,619)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,911,481
<NUMBER-OF-SHARES-REDEEMED> (798,332)
<SHARES-REINVESTED> 168,881
<NET-CHANGE-IN-ASSETS> 13,413,609
<ACCUMULATED-NII-PRIOR> 326,261
<ACCUMULATED-GAINS-PRIOR> 1,649,725
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282,514
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 709,906
<AVERAGE-NET-ASSETS> 47,127,790
<PER-SHARE-NAV-BEGIN> 13.26
<PER-SHARE-NII> .32
<PER-SHARE-GAIN-APPREC> (.20)
<PER-SHARE-DIVIDEND> (.40)
<PER-SHARE-DISTRIBUTIONS> (.55)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.43
<EXPENSE-RATIO> 1.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
