New Tranmere boss Micky Adams has bolstered the clubs attacking options with Cardiff's Danny Johnson on a one-month loan.
Full-back Maynor Figueroa has returned to Wigan on a one-month loan deal from Hull.
The Pilgrims are currently in the relegation zone, announced the news on their official website.
They have been without a boss since they sacked Carl Fletcher on New Year's Day.
Sheridan has previously been in charge at Oldham and Chesterfield but has been out of work since the latter relieved him of his duties back in August.