From what you are seeing, we can ASSUME that the power supply and drives are working.
The power supply, because the drives go through their self tests.
The first thing to do, is to check all connections.
Verify that the monitor keyboard, and other devices are plugged in properly.
Next, inside the case (use static protection)
verify that the RAM modules, CPU, and video card are seated in their sockets.
Does the CPU fan spin when you turn on the PC?
If not, you likely need to replace both the CPU and the fan.
One possability, is that the on-board video has been disabled, and with no video card plugged in, the system is freezing.
Try plugging in a video card, and connect your monitor to it.
You can also try disableing / removing any modems or network cards, as these tend to be the most susecptable to damage, and can lock up the PCI bus.
Then, try re-setting the CMOS memory.
At this point, you are now at the hardware swap with known good stage.
Start with the RAM, then the CPU.
Chas