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\begin{array}{l}\phantom{60)}\phantom{1}\\60\overline{)500}\\\end{array}
Use the 1^{st} digit 5 from dividend 500
\begin{array}{l}\phantom{60)}0\phantom{2}\\60\overline{)500}\\\end{array}
Since 5 is less than 60, use the next digit 0 from dividend 500 and add 0 to the quotient
\begin{array}{l}\phantom{60)}0\phantom{3}\\60\overline{)500}\\\end{array}
Use the 2^{nd} digit 0 from dividend 500
\begin{array}{l}\phantom{60)}00\phantom{4}\\60\overline{)500}\\\end{array}
Since 50 is less than 60, use the next digit 0 from dividend 500 and add 0 to the quotient
\begin{array}{l}\phantom{60)}00\phantom{5}\\60\overline{)500}\\\end{array}
Use the 3^{rd} digit 0 from dividend 500
\begin{array}{l}\phantom{60)}008\phantom{6}\\60\overline{)500}\\\phantom{60)}\underline{\phantom{}480\phantom{}}\\\phantom{60)9}20\\\end{array}
Find closest multiple of 60 to 500. We see that 8 \times 60 = 480 is the nearest. Now subtract 480 from 500 to get reminder 20. Add 8 to quotient.
\text{Quotient: }8 \text{Reminder: }20
Since 20 is less than 60, stop the division. The reminder is 20. The topmost line 008 is the quotient. Remove all zeros at the start of the quotient to get the actual quotient 8.