Disclaimer:
A series positive clipper is just a HW rectifier
Given:
Vrms=10V
Output current=10mA for 2V LED
Clipper Voltage=-0.7V(because the knee voltage of the diode is 0.7V) .
Output Calculation:
V(peak) =√2*Vrms=10V*√2=14.14V≈14.2V
Vo=V(peak) -Vd=14.2-0.7=13.5V
Load calculation:
V(led) =2V
I(led) =10mA
So, the Resistance of the resistor, (By KVL and ohm's law)
R=(Vo-V(led)) /I(led)
R=(13.5-2) /10mA=1.15KΩ
The resistor connected parallel to the source next to the diode is just for checking purposes. The original circuitry may or may not contain this based on the utilization purpose. (Mostly no parallel resistor is used)