We look at the division of 553058 by 8 
Let's see how many times 8 fits into 553058.

Moving on to step 1:
8 goes into 5 0 times with a remainder of 5.
Put 0 as the next digit of the answer. 
Result so far: 0.0
Subtract 0 from 5 to get 5.
Include the next digit (5) from the dividend after 5, then repeat: 55 / 8

Going ahead to step 2:
55 divided by 8 is 6 with a remainder of 7.
Record the quotient 6 as the next digit in the result. 
Result so far: 6.0
Subtract 48 from 55 to get 7.
Take the next digit (3) from the dividend and append it to 7, then repeat: 73 / 8

Advancing to step 3:
8 can be fit into 73 9 times, resulting in a remainder of 1.
The number 9 becomes the next digit in our result. 
Result so far: 69.0
Subtracting 72 from 73 leaves us with 1.
Take the next digit (0) from the dividend and append it to 1, then repeat: 10 / 8

Moving on to step 4:
8 can be fit into 10 1 times, resulting in a remainder of 2.
The next digit of our result is 1. 
Result so far: 691.0
If we subtract 8 from 10, we get 2.
Take the next digit (5) from the dividend and append it to 2, then repeat: 25 / 8

Going ahead to step 5:
If we divide 25 by 8, we get 3 and a remainder of 1.
Record the quotient 3 as the next digit in the result. 
Result so far: 6913.0
The remainder is 1 after subtracting 24 from 25.
Take the next digit (8) from the dividend and append it to 1, then repeat: 18 / 8

Advancing to step 6:
When dividing 18 by 8, we get 2 with a remainder of 2.
Write down 2 as next digit of the result. 
Result so far: 69132.0
Deduct 16 from 18 and we're left with 2.
Since there are no more digits in the dividend, we add a zero to the remainder making it 20, and continue the process.

Advancing to step 7:
The number 8 fits into 20 2 times, leaving a remainder of 4.
Write down 2 as next digit of the result. 
Result so far: 69132.2
Deduct 16 from 20 and we're left with 4.
Since there are no more digits in the dividend, we add a zero to the remainder making it 40, and continue the process.

Moving on to step 8:
When dividing 40 by 8, we get 5 with a remainder of 0.
Record the quotient 5 as the next digit in the result. 
Result so far: 69132.25
Subtract 40 from 40 to 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.

On to step 9:
8 goes into 0 0 times with a remainder of 0.
Record the quotient 0 as the next digit in the result. 
Result so far: 69132.25
Subtracting 0 from 0 leaves us 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.

Let's proceed to step 10:
8 goes into 0 0 times with a remainder of 0.
The next digit of our result is 0. 
Result so far: 69132.25
Subtracting 0 from 0 leaves us 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.

In conclusion, the division gives 69132.25 with a balance of 0.0.