We look at the division of 427723 by 8 
We're looking to find how many times 8 goes into 427723.

Let's proceed to step 1:
8 goes into 4 0 times with a remainder of 4.
Write down 0 as next digit of the result. 
Result so far: 0.0
Subtracting 0 from 4 leaves us with 4.
Take the next digit (2) from the dividend and append it to 4, then repeat: 42 / 8

Advancing to step 2:
If we divide 42 by 8, we get 5 and a remainder of 2.
The number 5 becomes the next digit in our result. 
Result so far: 5.0
Deduct 40 from 42 and we're left with 2.
Fetch the next digit (7) from the dividend, attach it to 2 and continue: 27 / 8

Let's proceed to step 3:
If we divide 27 by 8, we get 3 and a remainder of 3.
Record the quotient 3 as the next digit in the result. 
Result so far: 53.0
Subtract 24 from 27 to get 3.
Take the next digit (7) from the dividend and append it to 3, then repeat: 37 / 8

Let's proceed to step 4:
8 goes into 37 4 times with a remainder of 5.
Record the quotient 4 as the next digit in the result. 
Result so far: 534.0
Subtract 32 from 37 to get 5.
Grab the next digit (2) from the dividend, add it to 5, then carry on: 52 / 8

Going ahead to step 5:
8 can be fit into 52 6 times, resulting in a remainder of 4.
The next digit of our result is 6. 
Result so far: 5346.0
If we subtract 48 from 52, we get 4.
Take the next digit (3) from the dividend and append it to 4, then repeat: 43 / 8

Going ahead to step 6:
8 goes into 43 5 times with a remainder of 3.
Use 5 as the next digit of our solution. 
Result so far: 53465.0
The remainder is 3 after subtracting 40 from 43.
Since there are no more digits in the dividend, we add a zero to the remainder making it 30, and continue the process.

Going ahead to step 7:
If we divide 30 by 8, we get 3 and a remainder of 6.
Put 3 as the next digit of the answer. 
Result so far: 53465.3
Subtract 24 from 30 to get 6.
Since there are no more digits in the dividend, we add a zero to the remainder making it 60, and continue the process.

Let's proceed to step 8:
If we divide 60 by 8, we get 7 and a remainder of 4.
The number 7 becomes the next digit in our result. 
Result so far: 53465.37
Subtracting 56 from 60 leaves us 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.

Advancing to step 9:
The number 8 fits into 40 5 times, leaving a remainder of 0.
Use 5 as the next digit of our solution. 
Result so far: 53465.375
Deduct 40 from 40 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.

Step 10:
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: 53465.375
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.

On to step 11:
0 divided by 8 is 0 with a remainder of 0.
Record the quotient 0 as the next digit in the result. 
Result so far: 53465.375
If we take 0 away from 0, we end up 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.

The final outcome is 53465.375, with a leftover of 0.0.