Let's divide 123301 by 48
We're looking to find how many times 48 goes into 123301.

On to step 1:
The number 48 fits into 1 0 times, leaving a remainder of 1.
Record the quotient 0 as the next digit in the result. 
Result so far: 0.0
Deduct 0 from 1 and we're left with 1.
Take the next digit (2) from the dividend and append it to 1, then repeat: 12 / 48

Moving on to step 2:
48 goes into 12 0 times with a remainder of 12.
Record the quotient 0 as the next digit in the result. 
Result so far: 0.0
The remainder is 12 after subtracting 0 from 12.
Append the next digit (3) from the dividend to 12 and continue with: 123 / 48

Step 3:
The number 48 fits into 123 2 times, leaving a remainder of 27.
The next digit of our result is 2. 
Result so far: 2.0
Deduct 96 from 123 and we're left with 27.
Fetch the next digit (3) from the dividend, attach it to 27 and continue: 273 / 48

On to step 4:
273 divided by 48 is 5 with a remainder of 33.
Use 5 as the next digit of our solution. 
Result so far: 25.0
If we subtract 240 from 273, we get 33.
Fetch the next digit (0) from the dividend, attach it to 33 and continue: 330 / 48

Step 5:
48 goes into 330 6 times with a remainder of 42.
Use 6 as the next digit of our solution. 
Result so far: 256.0
Subtracting 288 from 330 leaves us with 42.
Grab the next digit (1) from the dividend, add it to 42, then carry on: 421 / 48

Let's proceed to step 6:
48 goes into 421 8 times with a remainder of 37.
Put 8 as the next digit of the answer. 
Result so far: 2568.0
If we take 384 away from 421, we end up with 37.
Since there are no more digits in the dividend, we add a zero to the remainder making it 370, and continue the process.

On to step 7:
If we divide 370 by 48, we get 7 and a remainder of 34.
The next digit of our result is 7. 
Result so far: 2568.7
The remainder is 34 after subtracting 336 from 370.
Since there are no more digits in the dividend, we add a zero to the remainder making it 340, and continue the process.

Advancing to step 8:
48 can be fit into 340 7 times, resulting in a remainder of 4.
Write down 7 as next digit of the result. 
Result so far: 2568.77
Subtracting 336 from 340 leaves us 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.

The final result is 2568.77 with a remainder of 0.004.