I went swimming. It was fun.

- Wow, sounds like you had a good time.
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Q1: that sounds like...., it sounds like.... Is 'that' or 'it' missing before sounds?

Q2: Is "like" a conjunction here?

Q1: In the sentence "I went swimming. It was fun.", both "that" and "it" can be used before "sounds" to clarify what the speaker is referring to. So, either "that sounds like" or "it sounds like" would be grammatically correct. Both options indicate that the speaker is referring to the previous activity of swimming as the subject of the sentence.

Q2: In this context, "like" is not functioning as a conjunction. Instead, it is used as a preposition to show similarity or comparison. It is followed by a noun or a noun phrase, such as "swimming" in this case. So, "like" is used to compare the swim activity to the enjoyment or fun the speaker experienced.