Cream butter and cream cheese in a large mixing bowl; gradually add 1 cup sugar, beating at medium speed of an electric mixer until light and fluffy. Add eggs, one at a time, beating after each addition. Stir in almond extract.
Combine 1-3/4 cups flour, baking powder, soda, and salt in a medium bowl; add flour mixture to creamed mixture alternately with milk, beginning and ending with flour mixture. Mix well after each addition. Pour batter into a greased and flour 13x9x2-inch baking pan.
Combine 1/2 cup sugar, 2 tablespoons flour and cinnamon in a small mixing bowl. Dip apple slices in lemon juice. Combine apple slices and cinnamon mixture, tossing gently to coat well. Arrange apple slices on top of batter.
Bake at 350 for 50 to 60 minutes or until a wooden pick inserted in center comes out clean.