how many sticks of ram do you have installed? Try booting it with just 1,
see if you have the same result. Also try reseating the ram to make sure
they are fitted into the slots correctly, but as far as that goes sounds
like a memory issue. If your video is working, try the above memory
suggestion, If you can see an error during boot up along with the beeps,
would be helpful to know that info as well. Also try switching the memory
around to different slots. If all the memory seems to be ok then sounds like
the motherboard or motherboard bios needs to be replaced. Since you have
just bought it I would take it back in that event. (be sure to boot the pc
with 1 ram chip installed, if no beeps, remove the good one and insert the
next one, keep doing this for all chips to determine possible ram failure)
As for the time on the bios, losing time usually is the result of bad
battery, bad cmos chip, or bad clock crystal(rare)
// Doug