Balancing is pretty much straight forward....a good electronic scale and an organized sheet of paper listing each components weight, i.e. pistons, wrist pins, connecting rods, rings...effectively all moving parts in the piston cylinder.
Take all the weight totals and connect counterweights onto the crankshaft, rotate it with the flywheel on, and see where it stops, assuming you go with a static balance method...drill press the crank until you get the weight to be balanced...the longer the crankshaft (4 cylinders versus 8 cylinders) the more you would want to use dynamic balancing versus static. If you do go with static, in your home shop, you will get most of the up and down shaking out....but if you want the side to side shaking out you will need to get a dynamic balance done...most home shops do not have the equipment to do this.
I oversimplified it (intentionally did not write about reciprocating weights and rotating weights), but this is the basic premise. Also, I'm assuming the counterbalance on the '24 is internal on the crank, like the '38...
Be sure your flywheel is going to be the final unit when reassembly occurs, some folks figure out later they want to replace the flywheel, after the balance, .... Another good option to do, if you going to spend the money on a balance, then go ahead and do a moly coat (Molybdenum Disulfide), this will reduce wear and friction and is extra protection if oil pressure is ever lost...Another area some folks overlook is the drive shaft and U-joints, balance them while installed...Basically, look at anything spinning in the driveline and consider balancing it (Pulleys, etc)
(Disclaimer - For the experts on the forum, I know I left off a lot, and there are many ways to achieve the same results, other than the above description)