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Preheat the oven to 350°F. Lightly grease an 8” square or 9” round pan that’s at least 2” deep.
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To make the cake: In a medium-sized bowl, whisk together the flour, salt, baking soda, and baking powder. Set aside.
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In a separate bowl or large measuring cup, whisk together the water, vegetable oil, sugar, vinegar, vanilla, and almond extract.
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Add the wet ingredients to the dry and stir to combine. It's OK for a few small lumps to remain.
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Pour the batter into the prepared pan.
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Bake the cake for 30 to 35 minutes, until the top feels set, the edges are beginning to pull away from the sides of the pan, and a toothpick inserted into the center comes out clean.
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Remove the cake from the oven and either serve the cake warm from the oven or allow it to cool completely in the pan before frosting.
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To make the frosting: Beat together the butter, confectioners’ sugar, and salt until no large pieces of butter remain.
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Add the vanilla and 1 tablespoon of the water, beating to incorporate. Add enough additional water, a teaspoon at a time, to make a spreadable frosting.
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Leaving the cake right in the pan, if desired, use a spatula or flat knife to apply the frosting.
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Storage information: Store the cake, well wrapped, at room temperature for several days. Freeze for longer storage.