Preheat oven to 350 degrees F (175 degrees C). Grease and flour one 9x13 inch baking pan.

Sift together the flour, baking powder, baking soda, and salt. Set aside.

In a large bowl, beat together the sugar, eggs, and vanilla until light and fluffy. Beat in the oil and water until well blended. Gradually add the dry ingredients to the wet ingredients, mixing just until combined.

Pour the batter into the prepared pan. Bake for 30 to 40 minutes, or until a toothpick inserted into the center of the cake comes out clean.

Let the cake cool in the pan for 10 minutes before removing to a wire rack to cool completely. Serve with your favorite frosting or glaze. Enjoy!