Please tell about a simulator which is freeware and can generate ascii file (like old MASM). I want to run these file on 8086kit (single board computer)
Did you just arrive here by time machine? 8086?? That's a 35-year-old part!
1) Simulators do not generate ASCII.
2) Do you mean an assembler (which is what MASM was)?
3) I don't think MASM generated ASCII, either, it produced object code.