While Beaver and Wally are fishing an abandoned canoe floats up and Beaver and Wally responsibly return it to the owner, whose name had been carved in the paddle. However, after telling his friends the story, they adjust it to make it sound as if Beaver had saved a girl from drowning.

Constantly entering contests, Beaver's latest one has him selling raffle tickets in hopes of winning one of the prizes. Surprisingly, he does indeed win third prize and the prize is a $3,500 sports car. However, his dreams are dashed when Eddie's premonition comes true, Ward breaks the news that Beaver can't keep the car.

An advertisement in the mail for a free tryout of an accordian has Beaver sneaking around behind Ward's back. After rescuing the flyer from the trash, Beaver sends it in and indeed gets an accordian that he quickly finds hard to hide from his parents.