Google Spreadsheets added a new feature called "format painter", that lets you copy the formatting a cell and use it for another cells. Format Painter saves you time and duplication effort. Instead of having to manually apply the font, font effects, centered paragraph alignment, and other formatting to each new section heading, you can quickly copy all of the formatting attributes by using one toolbar button.
To use the format painter, select a cell that has special formatting, click "paint format" button from the toolbar and then select one or more cell to apply the formatting.
Microsoft offers a similiar feature.