Read the following information and answer the question.

A, B & C are partners sharing profits in the ratio of 5:4:1. Their capital accounts showing balance of ₹300000, ₹150000, ₹150000 respectively. It is decided between partners that they will share future profits equally. Firm has the following information-

Creditors- ₹1,10,000
Salary payable- ₹30,000
O/s expenses- ₹10,000
General reserve- ₹40,000
Bank balance- ₹2,10,000
Sundry debtors- ₹1,00,000
Provision for doubtful debts- ₹10,000
Stock -₹50,000
Furniture- ₹40,000
Computers- ₹2,00,000
Vehicle- ₹2,00,000

The firm has an unrecorded car valued at ₹80,000 which is now accounted in the books. Pass the journal entry for its accounting.

Car A/c   Dr. ₹80,000
      To Revaluation A/c  ₹80,000

The correct answer is option 3-
Car A/c   Dr. ₹80,000
       To Revaluation A/c  ₹80,000

Car is gain for the firm. It is an asset so its account is debited and revaluation A/c is credited.
Car A/c   Dr. ₹80,000
     To Revaluation A/c  ₹80,000
(Unrecorded car is recorded)