<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 088063
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 SCUDDER PORTFOLIO TRUST
001 B000000 811-42
001 C000000 6172952567
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
002 D020000 4103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 SCUDDER INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 SCUDDER BALANCED FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
<PAGE> PAGE 2
015 C03AA01 02110
015 E01AA01 X
015 A00AA02 STANDARD CHARTERED BANK
015 B00AA02 S
015 C01AA02 DHAKA
015 D01AA02 BANGLADESH
015 E04AA02 X
015 A00AA03 CITIBANK, N.A.
015 B00AA03 S
015 C01AA03 BUENOS AIRES
015 D01AA03 ARGENTINA
015 E04AA03 X
015 A00AA04 WESTPAC BANKING CORP.
015 B00AA04 S
015 C01AA04 SYDNEY
015 D01AA04 AUSTRALIA
015 E04AA04 X
015 A00AA05 GIROCREDIT BANK
015 B00AA05 S
015 C01AA05 VIENNA
015 D01AA05 AUSTRIA
015 E04AA05 X
015 A00AA06 GENERALE BANQUE
015 B00AA06 S
015 C01AA06 BRUSSELS
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 THE FIRST NATIONAL BANK OF BOSTON
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
015 A00AA10 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA10 S
015 C01AA10 BOGOTA
015 D01AA10 COLOMBIA
015 E04AA10 X
015 A00AA11 DEN DANSKE BANK
015 B00AA11 S
015 C01AA11 COPENHAGEN
015 D01AA11 DENMARK
<PAGE> PAGE 3
015 E04AA11 X
015 A00AA12 MERITA BANK LIMITED
015 B00AA12 S
015 C01AA12 HELSINKI
015 D01AA12 FINLAND
015 E04AA12 X
015 A00AA13 BANQUE PARIBAS
015 B00AA13 S
015 C01AA13 PARIS
015 D01AA13 FRANCE
015 E04AA13 X
015 A00AA14 DRESDNER BANK AG
015 B00AA14 S
015 C01AA14 FRANKFURT
015 D01AA14 GERMANY
015 E04AA14 X
015 A00AA15 NATIONAL BANK OF GREECE
015 B00AA15 S
015 C01AA15 ATHENS
015 D01AA15 GREECE
015 E04AA15 X
015 A00AA16 STANDARD CHARTERED BANK
015 B00AA16 S
015 C01AA16 HONG KONG
015 D01AA16 HONG KONG
015 E04AA16 X
015 A00AA17 DEUTSCHE BANK AG
015 B00AA17 S
015 C01AA17 BOMBAY
015 D01AA17 INDIA
015 E04AA17 X
015 A00AA18 STANDARD CHARTERED BANK
015 B00AA18 S
015 C01AA18 JAKARTA
015 D01AA18 INDONESIA
015 E04AA18 X
015 A00AA19 BANK OF IRELAND
015 B00AA19 S
015 C01AA19 DUBLIN
015 D01AA19 IRELAND
015 E04AA19 X
015 A00AA20 BANQUE PARIBAS
015 B00AA20 S
015 C01AA20 MILAN
015 D01AA20 ITALY
015 E04AA20 X
015 A00AA21 SUMITOMO TRUST & BANKING COMPANY
015 B00AA21 S
015 C01AA21 TOKYO
015 D01AA21 JAPAN
015 E04AA21 X
<PAGE> PAGE 4
015 A00AA22 CITIBANK, N.A.
015 B00AA22 S
015 C01AA22 SEOUL
015 D01AA22 KOREA
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK
015 B00AA23 S
015 C01AA23 KUALA LUMPUR
015 D01AA23 MALAYSIA
015 E04AA23 X
015 A00AA24 CITIBANK, N.A.
015 B00AA24 S
015 C01AA24 MEXICO CITY
015 D01AA24 MEXICO
015 E04AA24 X
015 A00AA25 MEES PIERSON N.V.
015 B00AA25 S
015 C01AA25 AMSTERDAM
015 D01AA25 NETHERLANDS
015 E04AA25 X
015 A00AA26 ANZ BANKING GROUP
015 B00AA26 S
015 C01AA26 WELLINGTON
015 D01AA26 NEW ZEALAND
015 E04AA26 X
015 A00AA27 CHRISTIANIA BANK OG KREDITKASSE
015 B00AA27 S
015 C01AA27 OSLO
015 D01AA27 NORWAY
015 E04AA27 X
015 A00AA28 DEUTSCH BANK A.G.
015 B00AA28 S
015 C01AA28 KARACHI
015 D01AA28 PAKISTAN
015 E04AA28 X
015 A00AA29 STANDARD CHARTERED BANK
015 B00AA29 S
015 C01AA29 MANILA
015 D01AA29 PHILIPPINES
015 E04AA29 X
015 A00AA30 BANCO COMERCIAL PORTUGUES
015 B00AA30 S
015 C01AA30 LISBON
015 D01AA30 PORTUGAL
015 E04AA30 X
015 A00AA31 THE DEVELOPMENT BANK OF SINGAPORE, LTD.
015 B00AA31 S
015 C01AA31 SINGAPORE
015 D01AA31 SINGAPORE
015 E04AA31 X
015 A00AA32 BANCO SANTANDER
<PAGE> PAGE 5
015 B00AA32 S
015 C01AA32 MADRID
015 D01AA32 SPAIN
015 E04AA32 X
015 A00AA33 THE HONG KONG AND SHANGHAI BANKING CO., LTD.
015 B00AA33 S
015 C01AA33 COLOMBO
015 D01AA33 SRI LANKA
015 E04AA33 X
015 A00AA34 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA34 S
015 C01AA34 STOCKHOLM
015 D01AA34 SWEDEN
015 E04AA34 X
015 A00AA35 UNION BANK OF SWITZERLAND
015 B00AA35 S
015 C01AA35 ZURICH
015 D01AA35 SWITZERLAND
015 E04AA35 X
015 A00AA36 CENTRAL TRUST OF CHINA
015 B00AA36 S
015 C01AA36 TAIPEI
015 D01AA36 TAIWAN
015 E04AA36 X
015 A00AA37 STANDARD CHARTERED BANK
015 B00AA37 S
015 C01AA37 BANGKOK
015 D01AA37 THAILAND
015 E04AA37 X
015 A00AA38 CITIBANK, N.A.
015 B00AA38 S
015 C01AA38 ISTANBUL
015 D01AA38 TURKEY
015 E04AA38 X
015 A00AA39 STATE STREET BANK & TRUST CO.
015 B00AA39 S
015 C01AA39 LONDON
015 D01AA39 UNITED KINGDOM
015 E04AA39 X
015 A00AA40 CITIBANK, N.A.
015 B00AA40 S
015 C01AA40 MONTEVIDEO
015 D01AA40 URUGUAY
015 E04AA40 X
015 A00AA41 CITIBANK, N.A.
015 B00AA41 S
015 C01AA41 CARACAS
015 D01AA41 VENEZUELA
015 E04AA41 X
015 A00AA42 CITIBANK BUDAPEST
015 B00AA42 S
<PAGE> PAGE 6
015 C01AA42 BUDAPEST
015 D01AA42 HUNGARY
015 E04AA42 X
015 A00AA43 BANK HAPOALIM
015 B00AA43 S
015 C01AA43 TEL AVIV
015 D01AA43 ISRAEL
015 E04AA43 X
015 A00AA44 CITIBANK, N.A. LIMA
015 B00AA44 S
015 C01AA44 LIMA
015 D01AA44 PERU
015 E04AA44 X
015 A00AA45 THE HONG KONG AND SHANGHAI BANKING CO.
015 B00AA45 S
015 C01AA45 SHANGHAI & SHENZHEN
015 D01AA45 CHINA
015 E04AA45 X
015 A00AA46 STATE STREET LONDON LIMITED
015 B00AA46 S
015 C01AA46 LONDON
015 D01AA46 UNITED KINGDOM
015 E04AA46 X
015 A00AA47 BARCLAYS BANK OF BOTSWANA LIMITED
015 B00AA47 S
015 C01AA47 GABORONE
015 D01AA47 BOTSWANA
015 E04AA47 X
015 A00AA48 BARCLAYS BANK PLC
015 B00AA48 S
015 C01AA48 NICOSIA
015 D01AA48 CYPRUS
015 E04AA48 X
015 A00AA49 CESKOSLOVENSKA OBCHODNI BANKA
015 B00AA49 S
015 C01AA49 PRAGUE
015 D01AA49 CZECH REPUBLIC
015 E04AA49 X
015 A00AA50 BARCLAYS BANK OF GHANA LIMITED
015 B00AA50 S
015 C01AA50 ACCRA
015 D01AA50 GHANA
015 E04AA50 X
015 A00AA51 BARCLAYS BANK OF KENYA LIMITED
015 B00AA51 S
015 C01AA51 NAIROBI
015 D01AA51 KENYA
015 E04AA51 X
015 A00AA52 CITIBANK POLAND S.A.
015 B00AA52 S
015 C01AA52 WARSAW
<PAGE> PAGE 7
015 D01AA52 POLAND
015 E04AA52 X
015 A00AA53 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA53 S
015 C01AA53 JOHANNESBURG
015 D01AA53 SOUTH AFRICA
015 E04AA53 X
015 A00AA54 BARCLAYS BANK OF SWAZILAND LIMITED
015 B00AA54 S
015 C01AA54 XXXXX
015 D01AA54 SWAZILAND
015 E04AA54 X
015 A00AA55 BARCLAYS BANK OF ZAMBIA LIMITED
015 B00AA55 S
015 C01AA55 LUSAKA
015 D01AA55 ZAMBIA
015 E04AA55 X
015 A00AA56 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B00AA56 S
015 C01AA56 HARARE
015 D01AA56 ZIMBABWE
015 E04AA56 X
015 A00AA57 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA57 S
015 C01AA57 BRATISLAVA
015 D01AA57 SLOVAK REPUBLIC
015 E04AA57 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 40
019 C00AA00 SCUDDERRRR
020 A000001 MERRILL LYNCH
020 C000001 512
020 A000002 GOLDMAN SACHS
020 C000002 106
020 A000003 JP MORGAN
020 C000003 13
020 A000004 DEUTSCHE BANK
020 C000004 7
020 A000005 SMITH BARNEY
020 C000005 7
020 A000006 ALEX BROWN & SONS
020 C000006 7
020 A000007 SALOMON BROS.
020 C000007 6
020 A000008 DONALDSON, LUFKIN
020 C000008 5
020 A000009 PAINE WEBBER
020 C000009 4
020 A000010 EXECUTION SERVICES
020 C000010 4
<PAGE> PAGE 8
021 000000 718
022 A000001 MERRILL LYNCH
022 C000001 -2343680
022 D000001 -1493564
022 A000002 STATE STREET BANK
022 C000002 3810448
022 D000002 0
022 A000003 DONALDSON LUFKIN
022 C000003 3112462
022 D000003 0
022 A000004 HOUSEHOLD FINANCE
022 C000004 2387938
022 D000004 0
022 A000005 ASSOCIATES CORP
022 C000005 1268850
022 D000005 0
022 A000006 GOLDMAN SACHS
022 C000006 -169558
022 D000006 -883873
022 A000007 UBS SECURITIES
022 C000007 156857
022 D000007 128419
022 A000008 FORD MOTOR CREDIT
022 C000008 213326
022 D000008 0
022 A000009 AMERICAN EXPRESS
022 C000009 133205
022 D000009 0
022 A000010 JP MORGAN
022 C000010 90333
022 D000010 -92455
023 C000000 9078525
023 D000000 2144498
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
<PAGE> PAGE 9
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 2500
077 A000000 Y
077 B000000 Y
077 C000000 N
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 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE
080 B00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 C00AA00 60000
081 A00AA00 Y
081 B00AA00 80
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
028 A010100 12132
028 A020100 7558
028 A030100 0
028 A040100 -11487
028 B010100 16423
028 B020100 0
028 B030100 0
<PAGE> PAGE 10
028 B040100 -12854
028 C010100 9045
028 C020100 0
028 C030100 0
028 C040100 -17298
028 D010100 20818
028 D020100 7620
028 D030100 0
028 D040100 -18856
028 E010100 8738
028 E020100 0
028 E030100 0
028 E040100 -20256
028 F010100 14458
028 F020100 11257
028 F030100 0
028 F040100 -17390
028 G010100 81614
028 G020100 26435
028 G030100 0
028 G040100 -98141
028 H000100 0
062 A000100 Y
062 B000100 10.0
062 C000100 0.0
062 D000100 11.6
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 26.1
062 O000100 0.0
062 P000100 37.4
062 Q000100 14.9
062 R000100 1.7
063 A000100 0
063 B000100 10.0
064 A000100 N
064 B000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
<PAGE> PAGE 11
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 Y
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 348061
071 B000100 391617
071 C000100 520627
071 D000100 67
072 A000100 12
072 B000100 40230
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 3517
072 G000100 0
072 H000100 0
072 I000100 1654
072 J000100 164
072 K000100 0
072 L000100 130
072 M000100 38
072 N000100 41
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 47
<PAGE> PAGE 12
072 S000100 19
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 20
072 X000100 5630
072 Y000100 0
072 Z000100 34600
072AA000100 5100
072BB000100 0
072CC010100 0
072CC020100 20219
072DD010100 35051
072DD020100 0
072EE000100 3899
073 A010100 0.8100
073 A020100 0.0000
073 B000100 0.0900
073 C000100 0.0000
074 A000100 0
074 B000100 66447
074 C000100 0
074 D000100 507795
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 14901
074 K000100 0
074 L000100 7227
074 M000100 5
074 N000100 596375
074 O000100 15029
074 P000100 297
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 2529
074 S000100 0
074 T000100 578520
074 U010100 43995
074 U020100 0
074 V010100 13.15
074 V020100 0.00
074 W000100 0.0000
074 X000100 25012
074 Y000100 0
075 A000100 0
075 B000100 575867
<PAGE> PAGE 13
076 000100 0.00
028 A010200 2147
028 A020200 551
028 A030200 0
028 A040200 -2031
028 B010200 1728
028 B020200 0
028 B030200 0
028 B040200 -1317
028 C010200 2154
028 C020200 0
028 C030200 0
028 C040200 -2095
028 D010200 2930
028 D020200 629
028 D030200 0
028 D040200 -2190
028 E010200 2770
028 E020200 0
028 E030200 0
028 E040200 -1749
028 F010200 2992
028 F020200 5471
028 F030200 0
028 F040200 -6435
028 G010200 14721
028 G020200 6651
028 G030200 0
028 G040200 -15817
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.680
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
<PAGE> PAGE 14
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
<PAGE> PAGE 15
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 84991
071 B000200 67692
071 C000200 97145
071 D000200 70
072 A000200 12
072 B000200 2779
072 C000200 775
072 D000200 0
072 E000200 0
072 F000200 727
072 G000200 0
072 H000200 0
072 I000200 449
072 J000200 67
072 K000200 0
072 L000200 42
072 M000200 38
072 N000200 28
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 45
072 S000200 13
072 T000200 0
072 U000200 10
072 V000200 0
072 W000200 7
072 X000200 1426
072 Y000200 387
072 Z000200 2515
072AA000200 4907
072BB000200 0
072CC010200 3889
072CC020200 0
072DD010200 2448
072DD020200 0
072EE000200 5756
073 A010200 0.3400
073 A020200 0.0000
073 B000200 0.7900
073 C000200 0.0000
074 A000200 0
074 B000200 4006
<PAGE> PAGE 16
074 C000200 0
074 D000200 40763
074 E000200 0
074 F000200 67632
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 1096
074 K000200 0
074 L000200 608
074 M000200 10
074 N000200 114115
074 O000200 161
074 P000200 15
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 4397
074 S000200 0
074 T000200 109542
074 U010200 7503
074 U020200 0
074 V010200 14.60
074 V020200 0.00
074 W000200 0.0000
074 X000200 7590
074 Y000200 0
075 A000200 0
075 B000200 103924
076 000200 0.00
SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Income Fund Annual Report for the period ended December 31, 1996 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> SCUDDER INCOME FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 570,534,372
<INVESTMENTS-AT-VALUE> 574,242,444
<RECEIVABLES> 22,127,671
<ASSETS-OTHER> 4339
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 596,374,554
<PAYABLE-FOR-SECURITIES> 15,028,654
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,826,398
<TOTAL-LIABILITIES> 17,855,052
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 576,594,854
<SHARES-COMMON-STOCK> 43,994,954
<SHARES-COMMON-PRIOR> 42,499,531
<ACCUMULATED-NII-CURRENT> 618,802
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,402,226)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,708,072
<NET-ASSETS> 578,519,502
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 40,229,832
<OTHER-INCOME> 0
<EXPENSES-NET> 5,630,035
<NET-INVESTMENT-INCOME> 34,599,797
<REALIZED-GAINS-CURRENT> 5,099,598
<APPREC-INCREASE-CURRENT> (20,219,372)
<NET-CHANGE-FROM-OPS> 19,480,023
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,051,118)
<DISTRIBUTIONS-OF-GAINS> (3,898,759)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,592,757
<NUMBER-OF-SHARES-REDEEMED> (13,709,812)
<SHARES-REINVESTED> 2,612,478
<NET-CHANGE-IN-ASSETS> 252,554
<ACCUMULATED-NII-PRIOR> 968,007
<ACCUMULATED-GAINS-PRIOR> 3,500,948
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,516,782
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,630,035
<AVERAGE-NET-ASSETS> 575,866,583
<PER-SHARE-NAV-BEGIN> 13.61
<PER-SHARE-NII> .80
<PER-SHARE-GAIN-APPREC> (.36)
<PER-SHARE-DIVIDEND> (.81)
<PER-SHARE-DISTRIBUTIONS> (.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.15
<EXPENSE-RATIO> .98
<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
Balanced Fund Annual Report for the period ended December 31, 1996 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> SCUDDER BALANCED FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 96,832,642
<INVESTMENTS-AT-VALUE> 112,401,306
<RECEIVABLES> 1,703,831
<ASSETS-OTHER> 9,922
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 114,115,059
<PAYABLE-FOR-SECURITIES> 161,428
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,412,089
<TOTAL-LIABILITIES> 4,573,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 93,956,210
<SHARES-COMMON-STOCK> 7,502,830
<SHARES-COMMON-PRIOR> 6,386,156
<ACCUMULATED-NII-CURRENT> 94,771
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (78,103)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,568,664
<NET-ASSETS> 109,541,542
<DIVIDEND-INCOME> 775,325
<INTEREST-INCOME> 2,778,721
<OTHER-INCOME> 0
<EXPENSES-NET> 1,039,288
<NET-INVESTMENT-INCOME> 2,514,758
<REALIZED-GAINS-CURRENT> 4,906,972
<APPREC-INCREASE-CURRENT> 3,888,751
<NET-CHANGE-FROM-OPS> 11,310,481
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,447,716)
<DISTRIBUTIONS-OF-GAINS> (5,775,741)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,665,524
<NUMBER-OF-SHARES-REDEEMED> (2,096,096)
<SHARES-REINVESTED> 547,246
<NET-CHANGE-IN-ASSETS> 19,390,320
<ACCUMULATED-NII-PRIOR> 52,550
<ACCUMULATED-GAINS-PRIOR> 745,847
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 727,534
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,426,458
<AVERAGE-NET-ASSETS> 103,924,355
<PER-SHARE-NAV-BEGIN> 14.12
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> 1.25
<PER-SHARE-DIVIDEND> (.34)
<PER-SHARE-DISTRIBUTIONS> (.79)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.60
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Coopers Coopers & Lybrand L.L.P.
& Lybrand
a professional services firm
Report of Independent Accountants
To the Trustees of Scudder Portfolio Trust and
the Shareholders of Scudder Income Fund:
In planning and performing our audit of the financial statements and
financial highlights of Scudder Income Fund for the year ended December 31,
1996, we considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and financial
highlights and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of Scudder Income Fund is responsible for establishing
and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operations may deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control structure that might be
material weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition in which the
design or operation of the specific internal control structure elements does not
reduce to a relatively low level the risk that errors or irregularities in
amounts that would be material in relation to the financial statements and
financial highlights being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned functions.
However, we noted no matters involving the internal control structure, including
procedures for safeguarding securities, that we consider to be material
weaknesses, as defined above, as of December 31, 1996.
This report is intended solely for the information and use of
management of Scudder Income Fund and the Securities and Exchange Commission.
/s/Coopers & Lybrand L.L.P.
Boston, Massachusetts COOPERS & LYBRAND L.L.P.
February 3, 1997
Coopers & Lybrand L.L.P. is a member of Coopers & Lybrand International, a
limited liability association in corporated in Switzerland.
Coopers Coopers & Lybrand L.L.P.
& Lybrand
a professional services firm
Report of Independent Accountants
To the Trustees of Scudder Portfolio Trust and
the Shareholders of Scudder Balanced Fund:
In planning and performing our audit of the financial statements and
financial highlights of Scudder Balanced Fund for the year ended December 31,
1996, we considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and financial
highlights and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of Scudder Balanced Fund is responsible for establishing
and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operations may deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control structure that might be
material weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition in which the
design or operation of the specific internal control structure elements does not
reduce to a relatively low level the risk that errors or irregularities in
amounts that would be material in relation to the financial statements and
financial highlights being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned functions.
However, we noted no matters involving the internal control structure, including
procedures for safeguarding securities, that we consider to be material
weaknesses, as defined above, as of December 31, 1996.
This report is intended solely for the information and use of
management of Scudder Balanced Fund and the Securities and Exchange Commission.
/s/Coopers & Lybrand L.L.P.
Boston, Massachusetts COOPERS & LYBRAND L.L.P.
February 7, 1997
Coopers & Lybrand L.L.P. is a member of Coopers & Lybrand International, a
limited liability association in corporated in Switzerland.
