The answer to the first question is "yes", as stated in the comment section of this question.
The answer to the second question is "no".
Given a vector space $Z$, we have direct sum
decomposition into two subspaces $Z = X \oplus Y$. More
generally, given two vector spaces $X, Y$, the algebraic
direct sum $X \oplus Y$ is the vector space of all ordered
pairs $(x, y), x \in X, y \in Y$, with the vector operations
defined coordinatewise. The spaces $X$ and $Y$ are
algebraically isomorphic to the subspaces $\{(x, 0): x \in X\}$
and $\{(0, y): y \in Y\}$ of $X \oplus Y$, respectively.
Let $(X, \| \cdot \|_X)$ and $(Y, \| \cdot \|_Y)$ be normed
spaces. The algebraic direct sum $X \oplus Y$ of $X$ and $Y$
becomes a normed space, called the topological direct sum
of $X$ and $Y$, when it is endowed with the norm $\|(x, y)\|
:= \| x \|_X + \| y \|_Y$. The spaces $X$ and $Y$ are isometric
to the subspaces $\{(x, 0) : x \in X\}$ and $\{(0, y): y \in
Y\}$ of $X \oplus Y$, respectively.
Then it is easy to check
that the quotient space $(X \oplus Y)/X$ is isomorphic to $Y$
and $(X \oplus Y)/Y$ is isomorphic to $X$. However, if $Y$ is a
closed subspace of $X$, then $X$ may not be isomorphic $Y
\oplus (X/Y)$, as the following example shows:
There is a separable Banach space $X$ that is not isomorphic to
a Hilbert space and has a closed subspace $Y$ such that both
$Y$ and $X/Y$ are isomorphic to Hilbert spaces([1]). If $X \cong Y
\oplus X/Y$ as Banach spaces, then
$X$ would be isomorphic to a Hilbert space, a contradiction.
[1] Enflo, Per; Lindenstrauss, Joram; Pisier, Gilles, On the ’three space problem’, Math. Scand. 36, 199-210 (1975). ZBL0314.46015.