To do Alt + L L on Mac in Excel, download and install Accelerator Keys, then press Option, followed by L, L.
Command: Label (Form Control)
This is how to do Alt + L L on Mac in Excel with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with Excel.
Alt + L l inserts a Label form control. Labels display static text on your worksheet and are typically used to provide instructions or descriptions for other form controls like text boxes or list boxes.