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You'll need a formula to do what you are proposing.
I've drafted this formula, see if it does the job for you?
A2 represents the first value in your First column.
B2 represents the second value in your Second column.
Replace the cell references with your desired ones.
I've also attached a same of the worksheet I've made for you to see it in action.
Let me know if this did the trick?
I need a formula which states: if one or the other are false, then No. if the value in cell1 is greather than 50 or the value of cell #2 is Y, then Y if not, N
If the value of cell #2 is Y, then Y no matter what...guh