We divide 503458 by 8
We want to figure out the number of times 503458 can be divided by 8.

Moving on to step 1:
8 goes into 5 0 times with a remainder of 5.
Record the quotient 0 as the next digit in the result. 
Result so far: 0.0
Subtract 0 from 5 to get 5.
Grab the next digit (0) from the dividend, add it to 5, then carry on: 50 / 8

On to step 2:
8 can be fit into 50 6 times, resulting in a remainder of 2.
The number 6 becomes the next digit in our result. 
Result so far: 6.0
If we subtract 48 from 50, we get 2.
Include the next digit (3) from the dividend after 2, then repeat: 23 / 8

On to step 3:
If we divide 23 by 8, we get 2 and a remainder of 7.
Write down 2 as next digit of the result. 
Result so far: 62.0
If we take 16 away from 23, we end up with 7.
Include the next digit (4) from the dividend after 7, then repeat: 74 / 8

Going ahead to step 4:
The number 8 fits into 74 9 times, leaving a remainder of 2.
The number 9 becomes the next digit in our result. 
Result so far: 629.0
Subtract 72 from 74 to get 2.
Append the next digit (5) from the dividend to 2 and continue with: 25 / 8

On to step 5:
The number 8 fits into 25 3 times, leaving a remainder of 1.
Record the quotient 3 as the next digit in the result. 
Result so far: 6293.0
If we take 24 away from 25, we end up with 1.
Grab the next digit (8) from the dividend, add it to 1, then carry on: 18 / 8

Moving on to step 6:
8 can be fit into 18 2 times, resulting in a remainder of 2.
Put 2 as the next digit of the answer. 
Result so far: 62932.0
Subtract 16 from 18 to get 2.
Since there are no more digits in the dividend, we add a zero to the remainder making it 20, and continue the process.

Going ahead to step 7:
8 goes into 20 2 times with a remainder of 4.
Use 2 as the next digit of our solution. 
Result so far: 62932.2
Subtract 16 from 20 to get 4.
Since there are no more digits in the dividend, we add a zero to the remainder making it 40, and continue the process.

Going ahead to step 8:
40 divided by 8 is 5 with a remainder of 0.
The number 5 becomes the next digit in our result. 
Result so far: 62932.25
If we subtract 40 from 40, we get 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

Advancing to step 9:
0 divided by 8 is 0 with a remainder of 0.
Put 0 as the next digit of the answer. 
Result so far: 62932.25
If we subtract 0 from 0, we get 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

Let's proceed to step 10:
When dividing 0 by 8, we get 0 with a remainder of 0.
Record the quotient 0 as the next digit in the result. 
Result so far: 62932.25
Deduct 0 from 0 and we're left with 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

The final result is 62932.25 with a remainder of 0.0.