48623 ÷ 7 = 6946 R1
Alright, let's work through the division of 48623 by 7 step by step.

Step 1:
7 goes into 4 0 times with a remainder of 4.
Write down 0 as next digit of of the result. 
Result so far: 0
Subtract 0 from 4 to get 4.
Bring next digit (8) of the dividend behind the 4 and repeat the process: 48 / 7

Step 2:
7 goes into 48 6 times with a remainder of 6.
Write down 6 as next digit of of the result. 
Result so far: 6
Subtract 42 from 48 to get 6.
Bring next digit (6) of the dividend behind the 6 and repeat the process: 66 / 7

Step 3:
7 goes into 66 9 times with a remainder of 3.
Write down 9 as next digit of of the result. 
Result so far: 69
Subtract 63 from 66 to get 3.
Bring next digit (2) of the dividend behind the 3 and repeat the process: 32 / 7

Step 4:
7 goes into 32 4 times with a remainder of 4.
Write down 4 as next digit of of the result. 
Result so far: 694
Subtract 28 from 32 to get 4.
Bring next digit (3) of the dividend behind the 4 and repeat the process: 43 / 7

Step 5:
7 goes into 43 6 times with a remainder of 1.
Write down 6 as next digit of of the result. 
Result so far: 6946
Subtract 42 from 43 to get 1.

The final result is 6946 with a remainder of 1.