1Heat oven to 350°F (325°F for dark or nonstick pan). Place paper baking cup in each of 24 regular-size muffin cups. In large bowl, mix cake mix, water, sour cream, oil and eggs with spoon until well blended (batter will be thick). Divide batter evenly among muffin cups.
2In small bowl, stir preserves until smooth. Place 1 piece of cream cheese on top of each cupcake; press into batter slightly. Spoon 1/4 measuring teaspoon preserves on top of cream cheese in each cupcake.
3Bake 20 to 25 minutes or until tops are golden brown and spring back when touched lightly in center (some preserves may show in tops of cupcakes). Cool 10 minutes in pans; remove from pans to cooling rack. Cool completely, about 30 minutes.
4Spread frosting over cupcakes. Just before serving, garnish each cupcake with strawberry slices. Store covered in refrigerator.