Of course! By default all cells are marked as locked. Unlock the cells you want to grant access to (right-click, Format Cells, Protection tab, uncheck "locked"). Then to invoke locking all cells but the ones you unlocked, you must protect the worksheet (Review, Protect Sheet button)
@Jan Karel Pieterse I still can't get only particular cells to lock. It's either the entire worksheet is locked or the entire worksheet is unlocked. I only want to lock 5 formula cells. I want the remainder of the spreadsheet to remain editable. Step by step, how is this accomplished
By default ALL cells are locked, so you only have to set cells which need to be edited to Unlocked and then protect the worksheet. Select all cells (control+a multiple times until all cells are selected), press control+1 to open the cell formatting dialog, click the Protection tab and UNCHECK Locked. Now select the cells which need to be locked, then control+1 again, this time check that box. Now protect the worksheet and you're good to go.