Let's divide 111260 by 40
We're looking to find how many times 40 goes into 111260.

Step 1:
When dividing 1 by 40, we get 0 with a remainder of 1.
Write down 0 as next digit of the result. 
Result so far: 0.0
Deduct 0 from 1 and we're left with 1.
Take the next digit (1) from the dividend and append it to 1, then repeat: 11 / 40

Advancing to step 2:
40 can be fit into 11 0 times, resulting in a remainder of 11.
Put 0 as the next digit of the answer. 
Result so far: 0.0
The remainder is 11 after subtracting 0 from 11.
Include the next digit (1) from the dividend after 11, then repeat: 111 / 40

Let's proceed to step 3:
111 divided by 40 is 2 with a remainder of 31.
The number 2 becomes the next digit in our result. 
Result so far: 2.0
The remainder is 31 after subtracting 80 from 111.
Append the next digit (2) from the dividend to 31 and continue with: 312 / 40

Advancing to step 4:
40 goes into 312 7 times with a remainder of 32.
Record the quotient 7 as the next digit in the result. 
Result so far: 27.0
If we take 280 away from 312, we end up with 32.
Grab the next digit (6) from the dividend, add it to 32, then carry on: 326 / 40

Moving on to step 5:
When dividing 326 by 40, we get 8 with a remainder of 6.
Record the quotient 8 as the next digit in the result. 
Result so far: 278.0
If we subtract 320 from 326, we get 6.
Include the next digit (0) from the dividend after 6, then repeat: 60 / 40

Advancing to step 6:
60 divided by 40 is 1 with a remainder of 20.
The next digit of our result is 1. 
Result so far: 2781.0
If we take 40 away from 60, we end up with 20.
Since there are no more digits in the dividend, we add a zero to the remainder making it 200, and continue the process.

Moving on to step 7:
If we divide 200 by 40, we get 5 and a remainder of 0.
Put 5 as the next digit of the answer. 
Result so far: 2781.5
Subtracting 200 from 200 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.

Going ahead to step 8:
The number 40 fits into 0 0 times, leaving a remainder of 0.
The number 0 becomes the next digit in our result. 
Result so far: 2781.5
Subtracting 0 from 0 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.

Step 9:
If we divide 0 by 40, we get 0 and a remainder of 0.
Write down 0 as next digit of the result. 
Result so far: 2781.5
Deduct 0 from 0 and we're left 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 2781.5 with a balance of 0.0.