Beaver's teacher, Miss Canfield, sends a note home with Beaver and the other kids convince him that it's news that he's getting kicked out of school. Beaver and Wally take steps to hide the note from Ward and June.

Wally is throwing a party and is successful in getting Beaver out of the house, who is planning to spend the night at Whitey's. However, on the way to Whitey's house, him and Beaver get into an argument over a billboard that is advertising for soup and this leads to Beaver falling into the giant soup bowl mounted at the top of the billboard.

Beaver gets a surprise when June invites Miss Landers over for dinner and Larry convinces him that something bad might happen. This leads Beaver to becomes a nervous wreck and tries to make sure his parents don't do anything to embarrass him. Meanwhile, Larry charges a quarter to anyone who wants to spy on Miss Landers eating dinner at the Cleavers.

An old acquaintance of Ward's stops by and offers to paint the trim on the house. However, June and Ward are both apprehensive about the prospect of an alcoholic coming in contact with Wally and Beaver, despite the fact that he says he's cleaned himself up.

An upcoming test in history, Wally's weakest subject, has Wally studying all weekend and has Larry and Eddie coming up with a plan that will give them good grades on the test.

Wally gets a job at the ice cream parlor leaving a gaggle of girls swooning and Eddie and Lumpy feeling neglected. So to get back at him, Eddie and Lumpy concoct a plan of revenge that involves Mary Ellen Roger's slumber party.

Beaver and Larry find a wallet that contains $89 while on their way to the grocery store to pick up some groceries for June. Surprisingly, Beaver and Larry decide to turn it in at the police station and Beaver finds himself waiting an agonizing week to see if he can keep the money.

Wally's school is having an exchange dance and Wally and Eddie must take girls from a rival school that they chose out of a hat. Eddie asks to trade with Wally and he agrees, like a shot, after seeing the picture of Eddie's intended in a yearbook. Suspicious, Wally soon quickly discovers why Eddie wanted to trade; the girl is a few inches taller than Wally.

Beaver and his friends are all psyched to go on a camping trip with Gilbert's father as an escort. However, when Gilbert's father suddenly has to work and everyone is down in the dumps that is until Wally agrees to take them. Meanwhile, Eddie and Lumpy decide to secretly tag along and scare the boys with animal noises.

Beaver buys a common magic trick but is disappointed by everyone's ""that's nice"" reaction, but he gets a totally different reaction out of Bengie when Larry and Beaver convince him that Beaver has been turned into a rock.

Wally invites Eddie to spend the night. However, during a game of chess, Eddie accuses Wally of cheating and they get into a big argument ending with Wally ordering Eddie to go home.

Beaver gets out of school early to go to the dentist which prompts Gilbert to drop off his report card. However, Eddie and Lumpy get a hold of it and Eddie decides to alter Beaver's arithmetic grade from a D- to a B+.

Beaver's class holds a ""Most Beautiful Baby"" contest and each student is supposed to bring in a baby picture. To make the deadline, June picks out a cute picture of Beaver at the last minute and sends it to Miss Landers, not realizing that the cute picture may cause Beaver embarrassment.

June's birthday has Wally and Beaver fighting over what to buy with the five dollars that Ward gave them. Wally buys her a wallet while Beaver buys an ugly blouse that June kindly thanks him for, but she has a hard time bringing herself to wear it.

Wally lends his school sweater to Frances and quickly finds getting it back is going to be difficult since the girl keeps making up excuses. Things reach a boiling point when Ward and June overhear Frances bragging to her friends how Wally is chasing after her.

Ward's cherished autographed baseball becomes the object that Larry and Beaver just can't keep their hand off of. They decide to play catch with it and it ends up getting run over by a truck.

Beaver finds himself in a most uncomfortable situation when Fred Rutherford practically plays matchmaker and pairs Beaver up with his daughter Violet. Fred organizes a picnic and invites the Cleavers which is where the situation culminates into Beaver getting kissed by Violet.

A friend Beaver made at summer camp, Chopper, stays with the Cleavers for the weekend. Beaver is quickly introduced to Chopper's unusual life since he is the son of parents who have been married and divorced many times.

Before leaving on a business trip, Ward asks Wally to look after June and Beaver and Wally does indeed. However, when Miss Landers hears Beaver swear at a bully, Beaver turns to Wally to handle the situation and be a ""substitute father.""

Wally is rounding up some guys to go to an amusement park and he's one short from getting a discount so he settles on Beaver. However, Beaver begins having second thoughts when he hears stories about one of the rollercoasters.

Ward loans Beaver 25 cents but gives him a dollar, expecting 75 cents as change. However, Larry manages to convince Beaver to loan him the 75 cents and when Larry doesn't pay him back, when he said he was going to, a feud erupts.

Beaver wants to raise chinchillas and begins building a cage in the garage. However, when Beaver changes his mind, Ward tries his best to get Wally and Beaver the clean the mess up in the garage. Things get worse, when Ward unknowingly runs over some of the wood and nails that Beaver left laying around with the car, causing the boys to try to patch a flat tire before Ward finds out.

For an upcoming dance, Wally is ready to wear a grey suit but when Beaver brings his new friend Richard over to the house, he accidentally spills oil on it, leaving a big stain. This leads Richard and Beaver to try to bleach the stain out with disastrous results. Beaver finds himself with another problem, when later, Eddie discovers what Beaver is hiding from Wally.

Wally gets a job selling Igloo ice cream and quickly finds himself giving credit to everyone, including Eddie. However, as the day approaches that his money is to be collected, Wally scrambles to get those who owe him money, to pay up.

Eddie crawls through the Cleaver house spreading the news that he's going steady with Caroline Schuster, something that worries June who doesn't want Wally to get any ideas about going steady. However, Wally has other worries when he overhears Caroline saying that she's only using Eddie while her boyfriend is grounded. Leaving Wally with the decision to tell Eddie or not.