87981 ÷ 4 = 21995 R1
Alright, let's work through the division of 87981 by 4 step by step.

Step 1:
4 goes into 8 2 times with a remainder of 0.
Write down 2 as next digit of of the result. 
Result so far: 2
Subtract 8 from 8 to get 0.
Bring next digit (7) of the dividend behind the 0 and repeat the process: 7 / 4

Step 2:
4 goes into 7 1 times with a remainder of 3.
Write down 1 as next digit of of the result. 
Result so far: 21
Subtract 4 from 7 to get 3.
Bring next digit (9) of the dividend behind the 3 and repeat the process: 39 / 4

Step 3:
4 goes into 39 9 times with a remainder of 3.
Write down 9 as next digit of of the result. 
Result so far: 219
Subtract 36 from 39 to get 3.
Bring next digit (8) of the dividend behind the 3 and repeat the process: 38 / 4

Step 4:
4 goes into 38 9 times with a remainder of 2.
Write down 9 as next digit of of the result. 
Result so far: 2199
Subtract 36 from 38 to get 2.
Bring next digit (1) of the dividend behind the 2 and repeat the process: 21 / 4

Step 5:
4 goes into 21 5 times with a remainder of 1.
Write down 5 as next digit of of the result. 
Result so far: 21995
Subtract 20 from 21 to get 1.

The final result is 21995 with a remainder of 1.