120623 divided by 16 
We want to divide 120623 by 16.

Step 1:
16 goes into 1 0 times with a remainder of 1.
The next digit of our result is 0. 
Result so far: 0.0
If we take 0 away from 1, we end up with 1.
Bring next digit (2) of the dividend behind the 1 and repeat the process: 12 / 16

Going ahead to step 2:
16 can be fit into 12 0 times, resulting in a remainder of 12.
Use 0 as the next digit of our solution. 
Result so far: 0.0
The remainder is 12 after subtracting 0 from 12.
Grab the next digit (0) from the dividend, add it to 12, then carry on: 120 / 16

Step 3:
The number 16 fits into 120 7 times, leaving a remainder of 8.
Use 7 as the next digit of our solution. 
Result so far: 7.0
If we take 112 away from 120, we end up with 8.
Fetch the next digit (6) from the dividend, attach it to 8 and continue: 86 / 16

Moving on to step 4:
The number 16 fits into 86 5 times, leaving a remainder of 6.
Write down 5 as next digit of the result. 
Result so far: 75.0
The remainder is 6 after subtracting 80 from 86.
Include the next digit (2) from the dividend after 6, then repeat: 62 / 16

Advancing to step 5:
62 divided by 16 is 3 with a remainder of 14.
Put 3 as the next digit of the answer. 
Result so far: 753.0
Subtract 48 from 62 to get 14.
Bring next digit (3) of the dividend behind the 14 and repeat the process: 143 / 16

Moving on to step 6:
16 can be fit into 143 8 times, resulting in a remainder of 15.
Write down 8 as next digit of the result. 
Result so far: 7538.0
The remainder is 15 after subtracting 128 from 143.
Since there are no more digits in the dividend, we add a zero to the remainder making it 150, and continue the process.

Advancing to step 7:
When dividing 150 by 16, we get 9 with a remainder of 6.
Record the quotient 9 as the next digit in the result. 
Result so far: 7538.9
If we take 144 away from 150, we end up with 6.
Since there are no more digits in the dividend, we add a zero to the remainder making it 60, and continue the process.

Let's proceed to step 8:
When dividing 60 by 16, we get 3 with a remainder of 12.
The number 3 becomes the next digit in our result. 
Result so far: 7538.93
If we take 48 away from 60, we end up with 12.
Since there are no more digits in the dividend, we add a zero to the remainder making it 120, and continue the process.

Let's proceed to step 9:
When dividing 120 by 16, we get 7 with a remainder of 8.
The next digit of our result is 7. 
Result so far: 7538.937
The remainder is 8 after subtracting 112 from 120.
Since there are no more digits in the dividend, we add a zero to the remainder making it 80, and continue the process.

Step 10:
16 goes into 80 5 times with a remainder of 0.
Use 5 as the next digit of our solution. 
Result so far: 7538.9375
If we take 80 away from 80, we end up 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.

Advancing to step 11:
16 can be fit into 0 0 times, resulting in a remainder of 0.
Write down 0 as next digit of the result. 
Result so far: 7538.9375
Subtract 0 from 0 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.

Going ahead to step 12:
The number 16 fits into 0 0 times, leaving a remainder of 0.
The next digit of our result is 0. 
Result so far: 7538.9375
If we take 0 away from 0, we end up 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 7538.9375 with a balance of 0.0.