We're dividing 540404 by 8 
Our goal is to divide 540404 by 8.

Moving on to step 1:
If we divide 5 by 8, we get 0 and a remainder of 5.
Use 0 as the next digit of our solution. 
Result so far: 0.0
Subtract 0 from 5 to get 5.
Append the next digit (4) from the dividend to 5 and continue with: 54 / 8

Going ahead to step 2:
When dividing 54 by 8, we get 6 with a remainder of 6.
The number 6 becomes the next digit in our result. 
Result so far: 6.0
If we take 48 away from 54, we end up with 6.
Append the next digit (0) from the dividend to 6 and continue with: 60 / 8

Step 3:
When dividing 60 by 8, we get 7 with a remainder of 4.
Record the quotient 7 as the next digit in the result. 
Result so far: 67.0
If we take 56 away from 60, we end up with 4.
Grab the next digit (4) from the dividend, add it to 4, then carry on: 44 / 8

Moving on to step 4:
44 divided by 8 is 5 with a remainder of 4.
Put 5 as the next digit of the answer. 
Result so far: 675.0
If we subtract 40 from 44, we get 4.
Take the next digit (0) from the dividend and append it to 4, then repeat: 40 / 8

Advancing to step 5:
If we divide 40 by 8, we get 5 and a remainder of 0.
Put 5 as the next digit of the answer. 
Result so far: 6755.0
Deduct 40 from 40 and we're left with 0.
Include the next digit (4) from the dividend after 0, then repeat: 4 / 8

Moving on to step 6:
If we divide 4 by 8, we get 0 and a remainder of 4.
Record the quotient 0 as the next digit in the result. 
Result so far: 67550.0
Deduct 0 from 4 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.

On to step 7:
8 goes into 40 5 times with a remainder of 0.
Put 5 as the next digit of the answer. 
Result so far: 67550.5
Subtracting 40 from 40 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.

Advancing to step 8:
The number 8 fits into 0 0 times, leaving a remainder of 0.
Write down 0 as next digit of the result. 
Result so far: 67550.5
If we subtract 0 from 0, we 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.

Let's proceed to step 9:
If we divide 0 by 8, we get 0 and a remainder of 0.
Record the quotient 0 as the next digit in the result. 
Result so far: 67550.5
The remainder is 0 after subtracting 0 from 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 67550.5 with a balance of 0.0.