I did this
I had a sub domain I wanted on its own account.

using SSH I just did


Then permissions and ownership needed to be fixed so I did


To change all permissions over and set all files to 755 so su_php wouid work ok still.

I still had the files in a folder though under the second account, but that was a few seconds with transmit and moving them to the parent folder.

The -R on the chown and chmod does it recursively, so it does it for all folders and files below your cpanelname directory.

Edit,
As a note. you can use cp instead of mv to copy the files instead of moving them if you wish to have a copy for a bit.