<PAGE> PAGE 1
000 A000000 06/30/97
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002 B000000 BOSTON
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003 000000 N
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007 C010600 6
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008 A00AA01 SCUDDER, STEVENS & CLARK, INC.
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<PAGE> PAGE 2
008 D02AA01 MA
008 D03AA01 02110
008 D04AA01 4103
010 A00AA01 SCUDDER FUND ACCOUNTING CORPORATION
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010 C01AA01 BOSTON
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013 B03AA01 02109
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015 E04AA04 X
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<PAGE> PAGE 3
015 B00AA06 S
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015 B00AA07 S
015 C01AA07 SAO PAULO
015 D01AA07 BRAZIL
015 E04AA07 X
015 A00AA08 CANADA TRUST CO. MORTGAGE COMPANY
015 B00AA08 S
015 C01AA08 TORONTO
015 D01AA08 CANADA
015 E04AA08 X
015 A00AA09 CITIBANK, N.A.
015 B00AA09 S
015 C01AA09 SANTIAGO
015 D01AA09 CHILE
015 E04AA09 X
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015 C01AA10 BOGOTA
015 D01AA10 COLOMBIA
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015 C01AA11 COPENHAGEN
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015 A00AA15 NATIONAL BANK OF GREECE
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015 A00AA16 STANDARD CHARTERED BANK
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<PAGE> PAGE 4
015 C01AA16 HONG KONG
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015 A00AA17 DEUTSCHE BANK AG
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015 C01AA17 BOMBAY
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015 A00AA18 STANDARD CHARTERED BANK
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015 E04AA18 X
015 A00AA19 BANK OF IRELAND
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015 C01AA19 DUBLIN
015 D01AA19 IRELAND
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015 A00AA20 BANQUE PARIBAS
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015 D01AA20 ITALY
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<PAGE> PAGE 5
015 D01AA26 NEW ZEALAND
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<PAGE> PAGE 6
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<PAGE> PAGE 7
015 A00AA47 BARCLAYS BANK OF BOTSWANA LIMITED
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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073 B000200 0.0000
073 C000200 0.0000
074 A000200 1
074 B000200 10431
074 C000200 0
074 D000200 44599
074 E000200 0
074 F000200 83002
<PAGE> PAGE 19
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 1849
074 M000200 6
074 N000200 139888
074 O000200 0
074 P000200 21
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 861
074 S000200 0
074 T000200 139006
074 U010200 8419
074 U020200 0
074 V010200 16.51
074 V020200 0.00
074 W000200 0.0000
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SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Balanced Fund Semiannual Report for the fiscal year ended 6/30/97 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>2
<NAME>SCUDDER BALANCED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 110,821,158
<INVESTMENTS-AT-VALUE> 138,032,110
<RECEIVABLES> 1,848,793
<ASSETS-OTHER> 7,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 139,888,343
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 881,819
<TOTAL-LIABILITIES> 881,819
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107,275,760
<SHARES-COMMON-STOCK> 8,418,686
<SHARES-COMMON-PRIOR> 7,502,830
<ACCUMULATED-NII-CURRENT> 851,574
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,668,238
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 27,210,952
<NET-ASSETS> 139,006,524
<DIVIDEND-INCOME> 396,166
<INTEREST-INCOME> 1,725,730
<OTHER-INCOME> 0
<EXPENSES-NET> 615,760
<NET-INVESTMENT-INCOME> 1,506,136
<REALIZED-GAINS-CURRENT> 3,746,341
<APPREC-INCREASE-CURRENT> 11,642,288
<NET-CHANGE-FROM-OPS> 16,894,765
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (749,333)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,075,353
<NUMBER-OF-SHARES-REDEEMED> (1,208,572)
<SHARES-REINVESTED> 49,075
<NET-CHANGE-IN-ASSETS> 29,464,982
<ACCUMULATED-NII-PRIOR> 94,771
<ACCUMULATED-GAINS-PRIOR> (78,103)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 434,734
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 124,135,633
<PER-SHARE-NAV-BEGIN> 14.60
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> 1.82
<PER-SHARE-DIVIDEND> (0.09)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 16.51
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Income Fund Semiannual Report for the fiscal year ended 6/30/97 and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>1
<NAME>SCUDDER INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 592,164,152
<INVESTMENTS-AT-VALUE> 594,711,059
<RECEIVABLES> 17,825,246
<ASSETS-OTHER> 114,121
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 612,650,426
<PAYABLE-FOR-SECURITIES> 7,837,759
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,034,497
<TOTAL-LIABILITIES> 12,872,256
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 590,524,275
<SHARES-COMMON-STOCK> 45,069,019
<SHARES-COMMON-PRIOR> 43,994,954
<ACCUMULATED-NII-CURRENT> 9,393,524
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,686,536)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,546,907
<NET-ASSETS> 599,778,170
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 21,042,303
<OTHER-INCOME> 0
<EXPENSES-NET> 3,325,067
<NET-INVESTMENT-INCOME> 17,717,236
<REALIZED-GAINS-CURRENT> 159,303
<APPREC-INCREASE-CURRENT> (1,161,165)
<NET-CHANGE-FROM-OPS> 16,715,374
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,942,514)
<DISTRIBUTIONS-OF-GAINS> (443,613)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,168,866
<NUMBER-OF-SHARES-REDEEMED> (10,736,264)
<SHARES-REINVESTED> 641,461
<NET-CHANGE-IN-ASSETS> 21,258,668
<ACCUMULATED-NII-PRIOR> 618,802
<ACCUMULATED-GAINS-PRIOR> (2,402,226)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,791,931
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 587,800,661
<PER-SHARE-NAV-BEGIN> 13.15
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> (0.03)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.21)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.31
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
