Step 1: Preheat oven to 350 degrees F.
Step 2: Set oven rack to second-lowest position)
Step 3: Line 24 muffin pans with paper cupcake liners.
Step 4: In a large bowl using an electric mixer at medium speed cream butter and shortening until fluffy.
Step 5: Add in the eggs one at a time and the extracts and beat about 3-4 minutes on high speed (the mixture will seem to be a bit lumpy but will smooth out when you add in the sugar).
Step 6: Add in both sugars and beat another 3 minutes (scraping down the sides of the bowl occasionally) or until sugar is completely blended (no sugar granules should remain).
Step 7: In a bowl sift flour, salt and baking powder.
Step 8: Blend into the creamed ingredients along with the light cream or warm milk beating on low speed until smooth (about 3 minutes).
Step 9: Fill the prepared pans about two-thirds full.
Step 10: Bake for about 12-15 minutes or until the cupcakes test done.
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