The correct bit conversation would be
=BITAND(A1,2^3-1)
But BITAND does not work for negative numbers, but we can use VBA (if that is an option for you)
Right-click on the sheet tab
Choose "View Code"
Within the menu click Insert \ Module
Paste in the code below
Close the VBA editor
Then apply the formula
=BITAND_VBA(A1,2^3-1)
Andreas.
Function BITAND_VBA(Number, Mask)
BITAND_VBA = Number And Mask
End Function