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In this Excel tutorial, the presenter demonstrates how to add and remove strikethrough formatting in Microsoft Excel. First, users can select the desired cells and click on the arrow button to open the "Format Cells" dialog box. In the "Effects" section, checking the "Strikethrough" option and clicking OK will apply the formatting. To remove the strikethrough, users can access the same dialog, uncheck the option, and click OK to restore the original appearance. The tutorial emphasizes the simplicity of the function, encourages viewers to subscribe, and mentions a playlist on Excel VBA for further learning.