Emu8086 is based on 8086 instructions so you only have the single operand versions of MUL and DIV. Just to make you aware, IMUL is the signed version of MUL, and IDIV is the signed version of DIV. Assuming you intended to do unsigned arithmetic your code could look like this:
mov al,5
mov bl,4
mul bl
mov cx, ax ; Save AX to CX
mov ax,35
mov bl,7
div bl
xor ah, ah ; Result(quotient) of DIV in AL, ensure AH is zero
add ax, cx ; AX=AX+CX
There is no way to prevent AX from being destroyed with the 8086 specific instructions of MUL and DIV. You'll have to move the value to a scratch area. We'll use the register CX for that in the code above. Since we save the result of the MUL instruction to CX we just need to add it to the result of the DIV instruction (where the quotient is in AL). We zero out the remainder stored in AH, leaving the quotient in AL. AX would now contain the quotient (as a 16-bit value) that we add to CX, and the final result of the equation is stored in AX.
A simplification for multiplying by 4 is to shift a value left 2 bits. This code:
mov al,5
mov bl,4
mul bl
mov cx, ax ; Save AX to CX
Can be reduced to:
mov cx, 5
shl cx, 2 ; Multiply CX by 4
The 8086 processor doesn't support SHL shifting more than 1 bit except through the CL register. EMU8086's assembler automatically translates the SHL reg, imm instruction to one or more SHL, reg, 1 instructions. In this case SHL CX, 2 was translated to:
shl cx, 1 ; Multiply CX by 2
shl cx, 1 ; Multiply CX by 2 again
Most 8086 assemblers will not do this translation for you. Alternatively, the number of bits to shift can be specified in the CL register. This (or the equivalent) would work with most 8086 assemblers:
mov cl, 2 ; Number of bits to shift left by in CL
mov dx, 5
shl dx, cl ; Shift DX to the left by CL(2) is equivalent to multiply by 4
mov ax,35
mov bl,7
div bl
xor ah, ah ; Result(quotient) of DIV in AL, ensure AH is zero
add ax, dx ; AX=AX+DX