In this work, we use the numerical simulation platform Zemax to investigate the optical properties of electrically tunable aspherical liquid lenses, as we recently reported in an experimental study [<author order="1"> <name> <first>K.</first> <last>Mishra</last> </name> </author> <author order="2"> <name> <first>C.</first> <last>Murade</last> </name> </author> <author order="3"> <name> <first>B.</first> <last>Carreel</last> </name> </author> <author order="4"> <name> <first>I.</first> <last>Roghair</last> </name> </author> <author order="5"> <name> <first>J. M.</first> <last>Oh</last> </name> </author> <author order="6"> <name> <first>G.</first> <last>Manukyan</last> </name> </author> <author order="7"> <name> <first>D.</first> <last>van den Ende</last> </name> </author> <author order="8"> <name> <first>F.</first> <last>Mugele</last> </name> </author>, "Optofluidic lens with tunable focal length and asphericity," Sci. Rep.4, 6378 (2014)]. Based on the measured lens profiles in the presence of an inhomogeneous electric field and the geometry of the optical device, we calculate the optical aberrations, focusing in particular on the Z11 Zernike coefficient of spherical aberration obtained at zero defocus (Z4). Focal length and spherical aberrations are calculated for a wide range of control parameters (fluid pressure and electric field), parallel with the experimental results. Similarly, the modulation transfer function (MTF), image spot diagrams, Strehl's ratio, and peak-to-valley (P-V) and root mean square (RMS) wavefront errors are calculated to quantify the performance of our aspherical liquid lenses. We demonstrate that the device concept allows compensation for a wide range of spherical aberrations encountered in optical systems.