Preheat the oven to 350°F (175°C). Grease and flour a 9-inch round cake pan.

In a mixing bowl, whisk together the flour, sugar, baking powder, baking soda, and salt.

Add the softened butter, eggs, vanilla extract, and milk to the dry ingredients. Mix until smooth and well combined.

Pour the batter into the prepared cake pan and smooth the top.

Bake in the preheated oven for 25-30 minutes, or until a toothpick inserted into the center comes out clean.

Allow the cake to cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.

In a mixing bowl, beat the softened butter until creamy.

Gradually add the powdered sugar and mix until combined.

Add the vanilla extract and milk, and beat until the frosting is light and fluffy.

Once the cake is completely cooled, spread the frosting evenly over the top and sides of the cake.

Slice and serve the cake as a delightful snack.