First, and foremost... Take the
Motorcycle Basic Safety Training Course. It is taught nearly everywhere, and the skills you learn, will serve you for the rest of your life -- they will save your life countless times!
With regards to your bike, yes, it should be a five-speed transmission. Chances are that this bike has been neglected for some time. Here is a laundry list of things to do first, to clean it up (internally), and get it ready for more advanced work:
0) Download, and read, the
Factory Service Manual, and make a plan to go through the maintenance/lubrication page, start to finish, on your bike.
1) Change the oil -- it is shared by the engine, and the transmission, and it is cheap! Buy the cheapest oil at Wal-Mart -- you won't leave it in there very long, so don't worry.
2) Buy two cans of
Sea Foam gas/oil additive at Wal-Mart, too. Follow the directions and add it to both the crankcase (oil) and the gas tank (fill the gas tank to the top after adding the
Sea Foam). Run it for 5-10 minutes, around the block, or just idling, to circulate it throughout the engine/transmission, and the gas circuit. Let it sit for 2-3 days, so the
Sea Foam can dissolve deposits within the gas tank, and the engine/transmission.
3) Change the very-likely-now-black oil with
Shell Rotella T6 Synthetic ($19/gallon at Wal-Mart):
Sea Foam dissolves carbon, and varnish deposits inside the engine and transmission, which will turn your caramel-colored oil black -- time for a change. This stuff has no friction modifiers to mess with your clutch; it is rated at 5W-40; it won't break down until it reaches 400 F+ degrees, where the conventional oil will break down above 250 F (these engines run, typically, at 250 F...), into carbon, and varnish; it has a very high level of detergents which will help keep your engine/transmission clean. Change this oil every 3,000-5,000 miles.
4) Check the tension/condition of your chain, and tires -- replace as necessary!
5) Ride your bike for an hour, to push the
Sea Foam'ed gas through the carbs and the tank, to make certain everything is flushed out.
6) After this, you will need more advanced help, especially if your transmission is still only shifting through four gears, not five.
There are many more things you can/should do, but this will get you started. Cheers!
1979 CB750K (sold, 2012, but not forgotten)
1983 Kawasaki 440 LTD Belt Drive (sold, 2011)
1993 Kawasaki Voyager XII