Preheat your oven to 350°F (175°C) and prepare a cake pan.
In a large bowl, mix together flour, baking powder, baking soda, and salt.
In another bowl, beat together cream cheese and butter until smooth and creamy.
Add granulated sugar and mix until light and fluffy, then add eggs one at a time.
Stir in fresh lemon juice, zest, and vanilla extract until well combined.
Gradually mix in the dry ingredients until just combined.
Pour the batter into the prepared cake pan.
Bake in the preheated oven for 30-35 minutes or until a toothpick inserted comes out clean.
Let the cake cool in the pan for 10 minutes, then transfer it to a wire rack to cool completely.
Dust with powdered sugar before serving if desired.