To prepare a 14 carat cake with vanilla cream cheese frosting baked goods recipe, first you need to prepare the cake batter. First, you'll need the following ingredients: Preheat the oven to 350 degrees Fahrenheit (180 degrees Celsius) and grease and flour two 8-inch round cake pans. In another large mixing bowl, combine the flour, baking powder, sugar, salt and vanilla extract. Add the dry ingredients to the wet ingredients and mix until combined. Pour the batter into the greased pan and bake for 35 to 40 minutes or until toothpick inserted in the center comes out clean. Let cool before frosting.