Update [05/01/2017] - Another way to update the company is to go into your VS Project properties as shown below:
A quick tip - While executing your VS Code and if the browser opens up with a different entity as circled below in the screenshot.
A quick way to change the entity you want is go to AX and then System Admin > Users > Select the Admin user (- this was in my case) and then change the company to the one you intend and next time when you run your VS project, browser will display the right entity.