To understand the Series Equivalent of a Parallel Circuit consider the parallel circuit of Figure (A). As discussed in Article Complex or Phasor Algebra.
Hence, equivalent series circuit is as shown in Figure (B) or (C) depending on whether net susceptance B is negative (inductive) or positive (capacitive). If B is negative, then it is an R-L circuit of Figure (B) and if B is positive, then it is an R-C circuit of Figure (C).