=If(and(F40,F80),(F4/F8),"")

try this...I think it would do what you want.

"belliotb" wrote in message
...
i have 2 cells: f4 and f8 on status spreadsheet. they may not be populated,
(have a value in the cell), all the time. need a formula that will
calculate
when only both of them are populated. and not return a #div/0!, divide by
zero error. when neither or only one of those cells are populated