Two formulas for calculating angular momentum are discussed: L = r x p for point particles and L = Iw for objects rotating about a fixed axis. The first formula applies to point particles, while the second is suitable for extended objects, such as a rod rotating around one of its ends. It's important to ensure that the moment of inertia (I) corresponds to the object and axis in question. Understanding when to use each formula is crucial for accurate calculations. Proper application of these formulas is essential for analyzing angular momentum in various physical scenarios.