The figure a shows the 120 volts A C source connected with parallel inductive reactance and capacitive reactance.
Let inductive reactance has value 60 ohm and capacitive reactance has value 40 ohm.
The equivalent impedance can be calculate by the formula,
Z equivalent is equal to inductive reactance X L into capacitive reactance X C upon X.
Where X is the difference between X L and X C.
By Ohm's law we can find total current I T.
The figure b shows the phasor diagram.
Since the capacitive reactance is less the capacitive current is more.
Hence the net current is capacitive current.
The figure c shows the equivalent circuit.