Wally and Beaver are helping Ward clean out the garage when they run across Beaver's old teddy bear, Billy. Beaver reluctantly throws him away after Ward and Wally tell him he's too old for dolls. However, Beaver changes his mind but he's too late, the garbage truck came, which leads Beaver to take drastic measures to get him back.

An old friend of Wally's stops by with stories about how great it is at the military school he attends. This leads Wally to decide that he would like to attend military school, despite a wary Ward and June.

Beaver comes to Ward for help on the night before a poetry assignment is due. This prompts Ward to totally take over the project and writes the whole poem himself. Things get complicated when Beaver wins an award for the poem and Ward is faced with explaining the truth to Beaver's principal.