Alright, ready to do some subtraction? We're taking 550858 and subtracting 24824 from it.

Step 1: We'll start by subtracting the digit 4 and the borrow 0 from 8 in column 1 and get 4.
4 is the first digit of our result.

Step 2: We'll start by subtracting the digit 2 and the borrow 0 from 5 in column 2 and get 3.
3 is the next digit of our result.

Step 3: We'll start by subtracting the digit 8 and the borrow 0 from 8 in column 3 and get 0.
0 is the next digit of our result.

Step 4: We'll start by subtracting the digit 4 and the borrow 0 from 0 in column 4 and get -4.
We add -4 to 10 and get 6 as the next digit of the result.

Step 5: We'll start by subtracting the digit 2 and the borrow 1 from 5 in column 5 and get 2.
2 is the next digit of our result.

Step 6: We'll start by subtracting the digit 0 and the borrow 0 from 5 in column 6 and get 5.
5 is the next digit of our result.

So, 550858 - 24824 = 526034.