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.

The social event of the season, according to Fred Rutherford, is big party that a wealthy family is throwing and he rubs it in due to the fact that June and Ward didn't get an invitation. However, Wally and Eddie will be there after they get jobs parking the guest's cars. However, trouble ensues when Eddie parks Fred's car in a no parking spot and the car gets towed away by the city.

Beaver has gotten a job as a caddy and is quickly running around the golf course chasing balls. However, all innocence is broken when one of the guys Beaver is caddying for cheats in order to win a bet. Soon, Beaver begins wrestling with his conscience over whether or not to tell anyone.

Eddie has been seeing one particular girl, Cindy Andrews and she wants to give Eddie a birthday gift, so she decides to knit a sweater. She uses Wally as a model and he begins spending so much time at Cindy's that he arouses the suspicions of Julie, Eddie, Lumpy, Beaver and his parents.