The pre-solo student pilot bounced the airplane on touchdown during a dual instructional training flight. The certified flight instructor called for a go around and the student pilot added full power. The student pilot stalled the airplane and it bounced again. At this time the certified flight instructor took the controls and attempted to continue the go around. The airplane would not accelerate and slowing drifted to the right of the runway and into the grass. The airplane sustained substantial damage. The student pilot and certified flight instructor were not injured. There were no known mechanical or flight control anomalies noted prior to the accident.